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Cognizant Tech-A Set to Possibly Pullback After Yesterday's Rally of 2.27%

By Shiri Gupta

Cognizant Tech-A (NASDAQ:CTSH) traded in a range yesterday that spanned from a low of $61.36 to a high of $62.20. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $62.20 on volume of 821,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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.

In the past 52 weeks, Cognizant Tech-A share prices have been bracketed by a low of $56.73 and a high of $74.85 and are now at $61.72, 9% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Keywords: rebounders cognizant tech-a

Ticker(s): CTSH