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Shares of Syntel Under Pressure, Down 1.4%

Published on Tue, 01/15/2013 - 11:27
By Adrienne Chilton

One of today's notable stocks in decline is Syntel (NASDAQ:SYNT), down 1.4% to $55.01. The Dow is down 0.3% to 13,476 and the S&P is currently down 0.3% to 1,467.

Syntel (NASDAQ:SYNT) has potential upside of 19.2% based on a current price of $55.01 and analysts' consensus price target of $65.56. Syntel shares should first meet resistance at the 50-day moving average (MA) of $57.55 and find additional resistance at the 200-day MA of $58.51.

Syntel, Inc. delivers custom outsourcing solutions through a broad spectrum of information technology and information technology-enabled services. The Company's services support entire systems and process lifecycles for clients in the Financial Services, Retail, Healthcare and Automotive industries. With over 3300 employees worldwide, Syntel is SEI/CMM level 5 and ISO 9001:2000 certified.

Over the past year, Syntel has traded in a range of $44.61 to $65.19 and is now at $55.01, 23% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.5%.

By Adrienne Chilton