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Look for Shares of Cognizant Tech-A to Potentially Rebound after Yesterday's 1.77% Sell Off

By Amy Schwartz

Cognizant Tech-A (NASDAQ:CTSH) traded in a range yesterday that spanned from a low of $61.95 to a high of $62.76. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $63.07 on volume of 155,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Cognizant Tech-A have traded between a low of $56.73 and a high of $74.85 and are now at $62.28, which is 10% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.2%.

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