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Stock Investors Sell Off Shares of SYNNEX, Down 99.3%

Published on Fri, 01/18/2013 - 13:12
By Adrienne Chilton

Down 99.3% to $35.89, SYNNEX (NYSE:SNX), is one of today's notable movers. The S&P is currently trading 0.2% lower to 1,478 and the Dow Jones Industrial Average is trading fractionally lower to 13,580.

There is potential upside of 9.9% for shares of SYNNEX based on a current price of $35.89 and an average consensus analyst price target of $39.46. The stock should find initial support at its 200-day moving average (MA) of $34.14 and further support at its 50-day MA of $33.47.

In the past 52 weeks, SYNNEX share prices have been bracketed by a low of $30.70 and a high of $44.25 and are now at $35.89, 17% above that low price. The 200-day and 50-day moving averages have moved 0.23% lower and 0.72% higher over the past week, respectively.

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.

By Adrienne Chilton