Computer Sciences Corporation provides information technology (IT) and professional services and solutions in North America, Europe, Asia, and Australia. The company’s Managed Services Sector segment offers IT outsourcing services that involve customer’s technology infrastructure, including systems analysis, applications development, network operations, end-user computing, and data center management. Its North American Public Sector segment provides systems integration and outsourcing, and complex project management and technical services, such as enterprise modernization, telecommunications and networking, managed services, base and range operations, and training and simulation services for government agencies, as well as the department of homeland security and NASA. The company’s Business Solutions and Services segment offers consulting and professional services that include advising clients on the strategic acquisition and utilization of IT and on business strategy, security, modelling, simulation, engineering, operations, change management, and business process re-engineering.
To review Sciences’ stock, please take a look at the 1-year chart of CSC (Computer Sciences Corp.) below with my added notations:
After a nice push higher in July, CSC had been bouncing back and forth since August. As the stock found support in the general $50 area, it had also created a strong level of resistance at $54 (blue), which constitutes a 52-week high resistance. A break through that level most likely means higher prices for the stock. As you can see from the chart, CSC finally broke higher last week.
The Tale of the Tape: CSC broke out to a new 52-week high. A long trade could be made at $54 with a stop placed below that level. A break below $54 would negate the forecast for a continued move higher.
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