Synnex Corp. ($SNX) - Overbought - views

Synnex Corp. has hit a technical signal on 3 different technical indicators. SNX is in the Technology sector. The technical signals indicate that the stock is Overbought right now. The 3 indicators: Commodity Channel Index, Relative Strength Index and the Fast Stochastics were all triggered based on the last closing price of $39.73 on Feb 16.

There are currently 10 analysts covering the company. Of these analysts, 8 have a buy recommendation. The current consensus estimate for quarterly earnings among the 10 analysts covering the stock is $1.14 per share. Last quarter the company earned $0.89 per share. The consensus estimate for this years earnings is $3.89 per share as compared to the next years' expectation, of $4.10 per share. The consensus estimate for next years earnings is $4.10 per share, which represents forecast growth of 5.4%.

Over the last 52 weeks, the stock has been trading between $22.56 and $39.97. More recently in the last 4 weeks, the stock has been trading between $34.71 and $39.97. Yesterday the stock traded between $39.21 and $39.87. The stock currently has a PE ratio of 7.3.

Synnex Corp. is trading 6.4% from its 20-day simple moving average (SMA) of $37.35 and 18.4% from its 50-day SMA and 33.96% from its 200-day SMA. Average daily volume over the last 30 days has been 334,058 shares.

At yesterdays close: the RSI was at 84.6, the CCI was at 120.6 and the Fast Stochastic was at 95.1. SNX closed yesterday at $39.73, on volume of 383,500 shares as compared to an average volume of 334,058 over the last 4 weeks.

SYNNEX Corporation provides distribution and business process outsourcing services to resellers, retailers, and original equipment manufacturers (OEMs). The company operates in two segments, Distribution Services and Global Business Services (GBS). The Distribution Services segment distributes information technology systems, peripherals, system components, software, networking equipment, consumer electronics, and complementary products in the United States, Canada, Japan, and Mexico. It serves value-added resellers, system integrators, and retailers, as well as provides assembly services to OEMs, including integrated supply chain management, build-to-order and configure-to-order system configurations, materials management, and logistics. The GBS segment offers various services comprising customer management, renewal management, back office processing, and information technology outsourcing. It also provides support services, such as demand generation, pre-sales support, product marketing, print and fulfillment, back office outsourcing, and post-sales technical support. This segment delivers its services through voice, chat, Web, email, and digital print. The GBS segment has operations in the United States, China, Costa Rica, India, the Philippines, and the United Kingdom. In addition, SYNNEX Corporation offers various financial services, including net terms, third party leasing, floor plan financing, letters of credit, and arrangements to collect payments directly from the end-user; online services; and marketing services, as well as technical support services consisting of pre and post-sales support. The company was formerly known as SYNNEX Information Technologies, Inc. and changed its name to SYNNEX Corporation in October 2003. SYNNEX Corporation was founded in 1980 is headquartered in Fremont, California.

Technical Indicators should be used as the starting point for further analysis. These indicators are provided as a guide to help you determine what assets to analyze. The technical indicators used in this article can indicate that an asset is either overbought or oversold, but that indication could be the result of a fundamental or other type of event like an earnings announcement.

To learn more about technical analysis, please refer to our technical analysis primer.