Indian technology services, consulting and IT outsourcing firm Infosys, continued on Wednesday to announce profit and revenue surpassing analysts' projections; revising its guidance higher. However, the recent 62% gain in price action over a 4-month rally is starting to look overbought. A crossover of stochastics may serve as an entry into a short position for a price target towards the uptrend support; adding to the position on close below the trendline. Stop loss: close above $53.50. On Thursday, Jefferies reiterated a Buy rating with a $57 target.
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