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Shares of Cognizant Tech-A Rise Above Previous 52-Week High

By Nick Russo

Shares of Cognizant Tech-A (NASDAQ:CTSH) traded at a new 52-week high today of $68.98. So far today approximately 194,000 shares have been exchanged, as compared to an average 30-day volume of 3.7 million shares.

Over the past year, Cognizant Tech-A has traded in a range of $45.44 to $68.98 and is now at $68.68, 51% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

Potential upside of 0.7% exists for Cognizant Tech-A, based on a current level of $68.68 and analysts' average consensus price target of $69.15. The stock should discover initial support at its 200-day moving average (MA) of $61.71 and subsequent support at its 50-day MA of $59.23.

Cognizant Technology Solutions Corporation provides custom information technology (IT) consulting and technology services, as well as outsourcing services. The Company's core competencies include technology strategy consulting, complex systems development, enterprise software package implementation and maintenance, data warehousing, and business intelligence.

SmarTrend recommended that subscribers consider buying shares of Cognizant Tech-A on November 28th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $57.67. Since that recommendation, shares of Cognizant Tech-A have risen 19.4%. We continue to monitor CTSH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows cognizant tech-a

Ticker(s): CTSH