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After Yesterday's Rally of 1.34% Shares Could Potentially Pullback

By James Quinn

Cognizant Technology Solutions (NASDAQ:CTSH) traded in a range yesterday that spanned from a low of $55.01 to a high of $55.93. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $54.96 on volume of 2.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Cognizant Technology Solutions on June 16th, 2016 by issuing a Downtrend alert when the shares were trading at $59.22. Since that call, shares of Cognizant Technology Solutions have fallen 7.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Cognizant Technology Solutions share prices have moved between a 52-week high of $69.80 and a 52-week low of $51.22 and are now trading 9% above that low price at $55.82 per share. The 200-day and 50-day moving averages have moved 0.1% lower and 0.23% higher over the past week, respectively.

Keywords: rebounders Cognizant Technology Solutions

Ticker(s): CTSH