Syntel, Inc. : Close to a key point
Entry price | Target | Stop-loss | Potential |
---|
US$80.5 |
US$0 |
US$74.8 |
-100% |
---|
Syntel is back on its support area and this is a strategic entry point.
The group has a strong growth potential. Indeed, according to Thomson Reuters consensus, sales are expected to sharply increase about 10% by 2014. Moreover, at the current price, the security is trading 13.9 times its EPS and has a great potential.
The area of the USD 78 support should enable the stock to have a new bullish trend. The long term support in this area confirms its relevance. Technically, above these levels, 4-traders analysts are optimistic and count on a return toward the short and mid-term resistances.
Ideally, investors will take a long position nearby the USD 78 support currently tested, in order to benefit from a technical rebound. The USD 86 is the first target, then USD 91. This strategy should be covered by a stop loss placed under the USD 78 support because a breakdown of this level would invalidate it.
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