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Recent 52-Week Low Surpassed in Shares of Syntel (SYNT)

By Amy Schwartz

Syntel (NASDAQ:SYNT) traded today at a new 52-week low of $15.82. So far today approximately 403,000 shares have been exchanged, as compared to an average 30-day volume of 232,000 shares.

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.

There is potential upside of 30.0% for shares of Syntel based on a current price of $16.33 and an average consensus analyst price target of $21.22. Syntel shares should first meet resistance at the 200-day moving average (MA) of $45.62 and find additional resistance at the 50-day MA of $46.33.

In the past 52 weeks, Syntel share prices have been bracketed by a current low of $15.82 and a high of $50.92 and are now at $16.33. The 200-day and 50-day moving averages have moved 0.03% lower and 0.44% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Syntel on July 22nd, 2016 by issuing a Downtrend alert when the shares were trading at $43.86. Since that call, shares of Syntel have fallen 59.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows Syntel

Ticker(s): SYNT