Infosys dropped sharply after earnings despite a slight earnings and revenue beat and raised revenue guidance. Analyst reactions were mixed, with some raising price targets and others lowering them. The average price target of $12 per share implies 13% upside from the current price. S&P Capital IQ rates the stock undervalued. When a stock moves the wrong direction after earnings, that's usually a sign that the stock price had gotten ahead of itself. Corrections like this offer a buying opportunity for the contrarian investor, however. Infosys appears to be making a morning star candle stick, which is a sign that it may be gearing up to bounce. You could buy it here near the support, or you could wait for the trend line cross and then buy the next dip after that.