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Infosys Technologies Shares Sinking Lower, Down 1.1%

Published on Thu, 05/09/2013 - 10:35
By Peter Chu

Infosys Technologies (NASDAQ:INFY) is one of today's biggest movers, down 1.1% to $43.33. The S&P is trading fractionally lower to 1,629 and the Dow is trading fractionally lower to 15,093.

Infosys Technologies Limited provides IT consulting and software services, including e-business, program management and supply chain solutions. The Group's services include application development, product co-development, and system implementation and system engineering. Infosys targets businesses specializing in the insurance, banking, telecommunication and manufacturing sectors.

Over the past year, Infosys Technologies has traded in a range of $37.93 to $68.52 and is now at $43.33, 14% above that low. The 200-day and 50-day moving averages have moved 0.13% higher and 1.27% lower over the past week, respectively.

Infosys Technologies (NASDAQ:INFY) has potential upside of 5.1% based on a current price of $43.33 and analysts' consensus price target of $45.55. The stock should find initial resistance at its 200-day moving average (MA) of $46.30 and further resistance at its 50-day MA of $49.02.

By Peter Chu
pchu@fnno.com