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Downgrade Alert for SYKES Enterprises (SYKE)

By James Quinn

SYKES Enterprises (NASDAQ:SYKE) was downgraded from Buy to Hold at Craig-Hallum today. The stock closed yesterday at $24.36 on volume of 556,000 shares, above average daily volume of 223,000.

Sykes Enterprises, Incorporated provides customer management solutions and services in North America, Europe, Latin America, Asia, and Africa. The Company serves customers of companies in the financial services, communications, and technology/consumer markets. Sykes provides technical support and customer service, as well as customer relationship management consulting.

In the past 52 weeks, SYKES Enterprises share prices have been bracketed by a low of $18.16 and a high of $24.71 and closed yesterday at $24.36, 34% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.2%.

SYKES Enterprises has overhead space with shares priced $24.36, or 0.6% below the average consensus analyst price target of $24.50. The stock should discover initial support at its 50-day moving average (MA) of $20.62 and subsequent support at its 200-day MA of $20.50.

SmarTrend is monitoring the recent change of momentum in SYKES Enterprises. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of SYKES Enterprises in search of a potential trend change.

Keywords: analyst upgrades/downgrades sykes enterprises

Ticker(s): SYKE