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Cognizant Tech-A Falls 1.03% on Heavy Volume: Watch For Potential Rebound

By Shiri Gupta

Cognizant Tech-A (NASDAQ:CTSH) traded in a range yesterday that spanned from a low of $65.18 to a high of $66.00. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $65.19 on volume of 1.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Cognizant Tech-A on June 10th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $63.05. Since that recommendation, shares of Cognizant Tech-A have risen 4.6%. We continue to monitor CTSH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Cognizant Tech-A have traded between a low of $56.73 and a high of $83.30 and are now at $65.29, which is 15% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

Keywords: rebounders cognizant tech-a

Ticker(s): CTSH