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

By James Quinn

Today, shares of Infosys Technologies (NASDAQ:INFY) have crossed bearishly below their 10-day moving average of $16.06 on a volume of 2.0 million 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 share prices have moved between a 52-week high of $70.36 and a 52-week low of $15.32 and are now trading 4% above that low price at $15.94 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.8%.

SmarTrend recommended that its subscribers protect gains by selling shares of Infosys Technologies on December 8th, 2014 by issuing a Downtrend alert when the shares were trading at $32.28. Since that call, shares of Infosys Technologies have fallen 49.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses infosys technologies

Ticker(s): INFY