MSFT 453.9631 -2.6353% AAPL 228.225 -2.0409% NVDA 131.2 -2.75% GOOGL 187.56 -1.8935% GOOG 189.16 -1.8167% AMZN 196.37 -1.7118% META 522.38 -2.3023% AVGO 1714.64 -1.7224% TSLA 265.3951 0.811% TSM 187.5 -1.8582% LLY 937.8 -0.2107% V 261.56 -0.5475% JPM 207.67 -0.0626% UNH 505.78 0.9682% NVO 141.2 -1.0789% WMT 69.41 -1.4203% LVMUY 154.5 1.9667% XOM 112.96 0.9292% LVMHF 770.5 1.6491% MA 432.89 -0.173%

mid-cap

One NYSE – Listed Technological Stock at Resistance Levels: Endava PLC

Nov 28, 2023 | Team Kalkine
One NYSE – Listed Technological Stock at Resistance Levels: Endava PLC

DAVA:NYSE
Investment Type
Mid - Cap
Risk Level
Action
Rec. Price (US$)

Endava PLC

Company Overview: Endava plc (NYSE: DAVA) is a technology service provider. The Company provides a combination of product and technology strategies, intelligent experiences, and engineering to help customers become digital, experience-driven businesses by assisting them from idea generation to development and deployment of products, platforms, and solutions. It uses its Distributed Enterprise Agile scaling framework, known as TEAM Enterprise Agile Scaling (TEAS).

As per our previous US Daily report published on ‘DAVA’ on 21st July 2023, Kalkine provided a ‘Attractive’ stance on the stock at USD 54.41 based on “Earning Hunter rating and other company’s financials and the stock price has now moved by ~21.43% since then and the price has crossed resistance 1 and resistance 2.

Noted below are the details of support and resistance levels provided in our previous report:

DAVA’s Daily Chart

Considering the resistance around the range of USD 65.00 – USD 70.00, attainment of resistance 1 and resistance 2 levels, current trading levels, risks associated, and volatile market conditions on the back of higher interest rates, a ‘Unattractive’ rating is assigned to the “DAVA” at the current market price of USD66.07 (as of 28 November 2023, at 07:10 am PST).  

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is November 28, 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’