Unisys Corp. (UIS) still in a correction mode

Unisys Corp. (NYSE: UIS) surged by close to 12% on Wednesday in early hours as the technology-services provider swung to a third-quarter profit in the wake of a reverse stock split.

Unisys Corp. (UIS) stock, presently quoting around $ 26.86, is far from showing any major uptrend, as the UIS stock had slipped on the first days after re-listing following reverse split. The daily UIS chart continues to be below the 50 days and 20 days MA, and is likely to face correction over the coming days. Unisys Corp. (UIS) stock is a good candidate for ‘sell on news’.

Earlier, Unisys Corp. (UIS) reported a quarterly profit of $61.1 million, or $1.48 a share, compared with a loss of $34.7 million, or 96 cents a share, in the year-ago period.