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Upgrade Alert for Infosys Technologies (INFY)

By Shiri Gupta

Infosys Technologies (NASDAQ:INFY) was upgraded from Neutral to Buy at Goldman Sachs today. The stock closed yesterday at $18.81 on volume of 2.5 million shares, below average daily volume of 3.9 million.

In the past 52 weeks, shares of Infosys Technologies have traded between a low of $15.32 and a high of $70.36 and closed yesterday at $18.81, which is 23% above that low price. 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%.

Infosys Technologies (NASDAQ:INFY) defies analysts with a current price ($18.81) 0.2% above its average consensus price target of $18.77. Infosys Technologies shares have support at the 50-day moving average (MA) of $18.48 and additional support at the 200-day MA of $17.58.

Infosys Technologies Limited provides IT consulting and software services, including e-business, program management and supply chain solutions. The Group's services include application development, product co-development, and system implementation and system engineering. Infosys targets businesses specializing in the insurance, banking, telecommunication and manufacturing sectors.

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 42.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades infosys technologies

Ticker(s): INFY