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Shares of SYNNEX Under Pressure, Down 99.3%

Published on Fri, 02/08/2013 - 13:13
By Adrienne Chilton

One of today's stocks on the move is SYNNEX (NYSE:SNX), down 99.3% to $37.45. The S&P is currently trading 0.5% higher to 1,516 and the Dow Jones Industrial Average is trading 0.3% higher to 13,990.

SYNNEX Corporation provides information technology supply chain services. The Company offers services to original equipment manufacturers and software publishers worldwide. SYNNEX offers product distribution, related logistics services, and contract assembly.

There is potential upside of 5.3% for shares of SYNNEX based on a current price of $37.45 and an average consensus analyst price target of $39.43. The stock should discover initial support at its 50-day moving average (MA) of $34.74 and subsequent support at its 200-day MA of $34.06.

Over the past year, SYNNEX has traded in a range of $30.70 to $44.25 and is now at $37.45, 22% above that low. The 200-day and 50-day moving averages have moved 0.05% lower and 1.00% higher over the past week, respectively.

By Adrienne Chilton