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Watch for Continued Gains in Shares of Convergys (CVG)

By Shiri Gupta

Shares of Convergys (NYSE:CVG) traded today at $28.98, breaking its 52-week high. So far today approximately 280,000 shares have been exchanged, as compared to an average 30-day volume of 412,000 shares.

Convergys (NYSE:CVG) defies analysts with a current price ($28.98) 6.1% above its average consensus price target of $27.20. The stock should discover initial support at its 50-day moving average (MA) of $26.72 and subsequent support at its 200-day MA of $24.89.

Convergys Corporation is a global company specializing in relationship management. The Company's encompass Customer Management which provides agent assisted services, automated self-service and technology solutions; Information Management, which provides business support system and operational support system; Human Resources Management which provides outsourcing solutions.

Convergys share prices have moved between a 52-week high of $28.98 and a 52-week low of $20.57 and are now trading 41% above that low price at $28.98 per share. The 200-day and 50-day moving averages have moved 0.06% higher and 0.41% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Convergys on July 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.47. Since that recommendation, shares of Convergys have risen 3.0%. We continue to monitor CVG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Convergys

Ticker(s): CVG