Infosys Technologies Crosses Below its 10-day MA (INFY)
Today, shares of Infosys Technologies (NASDAQ:INFY) have crossed bearishly below their 10-day moving average of $15.92 on a volume of 6.6 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.
Over the past year, Infosys Technologies has traded in a range of $15.32 to $70.36 and is now at $15.79, 3% above that low. 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 48.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses infosys technologies