Infosys Technologies Crosses Below its 10-day MA (INFY)

Published on Mon, 02/23/2015 - 12:12
By Peter Chu in Moving average crossovers, INFY, infosys technologies, moving crosses, nasdaq:infy

Infosys Technologies (NASDAQ:INFY) shares have crossed bearishly below their 10-day moving average of $36.54 on a volume of 645K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

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.

Infosys Technologies share prices have moved between a 52-week high of $70.36 and a 52-week low of $25.03 and are now trading 45% above that low price at $36.26 per share. The 200-day and 50-day moving averages have moved 0.64% higher and 5.11% lower over the past week, respectively.

Based on a current price of $36.26, Infosys Technologies is currently 7.9% above its average consensus analyst price target of $33.39. The stock should discover initial support at its 50-day moving average (MA) of $33.78 and subsequent support at its 200-day MA of $31.38.

By Peter Chu
pchu@fnno.com

Latest News from FNNO

Shares of U.S. Steel Fall to a New 52-We...

U.S. Steel (NYSE:X) traded at a new 52-week low today of $15.68. Approximately 13.5 mi ...

Weyerhaeuser: The Losing Streak Continue...

Shares of Weyerhaeuser (NYSE:WY) traded today at $29.63, breaking its 52-week low. So ...

Watts Water Technologies: New 52-Week Lo...

Watts Water Technologies (NYSE:WTS) traded today at a new 52-week low of $48.09. Appro ...

Shares of W&T Offshore Fall to a New 52-...

W&T Offshore (NYSE:WTI) traded today at a new 52-week low of $3.95. So far today appro ...

Shares of WPX Energy Have Fallen Below P...

WPX Energy (NYSE:WPX) traded today at a new 52-week low of $7.96. So far today approxi ...

Shares of Whiting Petroleum Fall Below P...

Whiting Petroleum (NYSE:WLL) traded at a new 52-week low today of $20.94. This new low ...

Shares of Westmoreland Coal Fall to a Ne...

Westmoreland Coal (AMEX:WLB) traded today at a new 52-week low of $13.25. This new low ...

Shares of Windstream Fall to a New 52-We...

Shares of Windstream (NASDAQ:WIN) traded at a new 52-week low today of $4.42. This new ...