Long Position on EPAM @ $43.75 on 10/9/2014 (Momentum)

Bullish Cup & Handle on EPAMEPAM Systems, Inc. (EPAM) provides software engineering solutions and technology services worldwide.

The company offers software product development services, including product research, customer experience design and prototyping, program management, component design and integration, full lifecycle software testing, deployment and end-user customization, performance tuning, support and maintenance, and managed services, as well as porting and cross-platform migration.

It also provides custom application development services, such as business and technical requirements analysis, user experience design, solution architecture creation and validation, quality assurance and testing, legacy applications re-engineering/refactoring, and documentation. In addition, the company offers software application testing comprising test automation tools and frameworks; testing for enterprise IT, such as test management, automation, functional and non-functional testing, and defect management; and consulting services focused on helping clients to enhance their existing software testing and quality assurance practices.

Further, it provides enterprise application platform services comprising requirements analysis and platform selection, customization, cross-platform migration, implementation, integration, and support and maintenance. Additionally, the company offers application maintenance and support services, such as incident management, fault investigation diagnosis, work-around provision, bug fixes, release management, enhancements, and third-party maintenance; and infrastructure management services, including application, database, network, server, storage, and systems operations management, as well as incident notification and resolution. It serves independent software vendors and technology companies in banking and financial services, business information and media, and travel and consumer industries.

Shares have formed a bullish "cup and handle" following the company' latest quarterly report. Higher share prices are expected for this stock.

52-Week Trading Range: $29.44 - $46.70

Entry Point: $43.75

Stop Loss: $41.55

Target Price: $48.12 

Updates

10/31/2014 10:26:50 AM

EPAM reached our target. Closed at $48.12.

Position closed on 10/31/2014 at price of $48.12 with a 9.99% gain in 22 days.

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