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After Yesterday's Rally of 1.58% Shares Could Potentially Pullback

By Shiri Gupta

Cognizant Technology Solutions (NASDAQ:CTSH) traded in a range yesterday that spanned from a low of $58.45 to a high of $59.19. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $58.33 on volume of 2.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Cognizant Technology Solutions has traded in a range of $45.44 to $69.80 and is now at $58.81, 29% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Cognizant Technology Solutions and will alert subscribers who have CTSH in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Cognizant Technology Solutions

Ticker(s): CTSH