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SmarTrend Watching for Potential Pullback in Shares of Cognizant Technology Solutions After 1.84% Gain

By Shiri Gupta

Cognizant Technology Solutions (NASDAQ:CTSH) traded in a range yesterday that spanned from a low of $61.91 to a high of $63.23. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $62.40 on volume of 2.4 million 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 Technology Solutions have traded between a low of $51.22 and a high of $69.80 and are now at $63.14, which is 23% 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 advanced 0.2%.

SmarTrend is tracking the current trend status for Cognizant Technology Solutions and will alert subscribers who have CTSH in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Cognizant Technology Solutions

Ticker(s): CTSH