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After Yesterday's Rally of 1.73% Shares Could Potentially Pullback

By James Quinn

Cognizant Tech-A (NASDAQ:CTSH) traded in a range yesterday that spanned from a low of $81.00 to a high of $82.24. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $82.23 on volume of 1.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Cognizant Tech-A share prices have moved between a 52-week high of $85.10 and a 52-week low of $45.44 and are now trading 81% above that low price at $82.08 per share. 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 Tech-A and will alert subscribers who have CTSH in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders cognizant tech-a

Ticker(s): CTSH