Amdocs Ltd (DOX) Upgrade Alert, Watch for 1.8% Technical Downtrend Reversal

Amdocs Ltd (NYSE:DOX) upgraded to Buy, $33 target, at Cantor Fitzgerald. The stock closed yesterday at $24.47 on volume of 1,621,300 shares, above average daily volume of 975,819.

Amdocs is currently below its 50-day moving average of $25.80 and should find support at its 200-day moving average of $21.62.

SmarTrend is bearish on shares of DOX and our subscribers received a Downtrend alert on October 28, 2009 at $24.92, which has returned 1.8% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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