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Cognizant Tech-A Set to Possibly Rebound After Yesterday's Selloff of 3.24%

By Shiri Gupta

Cognizant Tech-A (NASDAQ:CTSH) traded in a range yesterday that spanned from a low of $71.91 to a high of $72.70. Yesterday, the shares fell 3.2%, which took the trading range below the 3-day low of $73.55 on volume of 2.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Cognizant Tech-A share prices have been bracketed by a low of $59.47 and a high of $83.35 and are now at $71.91, 21% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% 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