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Cognizant Tech-A Rises 1.31% on Heavy Volume: Watch For Potential Pullback

By David Diaz

Cognizant Tech-A (NASDAQ:CTSH) traded in a range yesterday that spanned from a low of $64.25 to a high of $64.90. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $64.88 on volume of 880,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Cognizant Tech-A have traded between a low of $56.73 and a high of $83.35 and are now at $64.89, which is 14% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has slid 0.3%.

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