Stock Investors Bid Up Shares of Syntel, Up 1.4%

Published on Fri, 01/11/2013 - 11:26
By Peter Chu in Market movers, SYNT, market movers, nasdaq:synt, syntel

Syntel (NASDAQ:SYNT) is one of today's notable stocks on the rise, up 1.4% to $55.67. The S&P is trading fractionally lower to 1,470 and the Dow is trading fractionally lower to 13,467.

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.

Potential upside of 19.6% exists for Syntel, based on a current level of $55.67 and analysts' average consensus price target of $66.56. The stock should run into initial resistance at its 50-day moving average (MA) of $57.72 and subsequent resistance at its 200-day MA of $58.50.

In the past 52 weeks, shares of Syntel have traded between a low of $44.37 and a high of $65.19 and are now at $55.67, which is 25% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1%.

By Peter Chu
pchu@fnno.com

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