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SmarTrend Watching for Potential Pullback in Shares of Cognizant Technology Solutions After 3.16% Gain

By James Quinn

Cognizant Technology Solutions (NASDAQ:CTSH) traded in a range yesterday that spanned from a low of $56.21 to a high of $59.80. Yesterday, the shares gained 3.2%, which took the trading range above the 3-day high of $58.30 on volume of 3.7 million 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 monitoring the recent change of momentum in Cognizant Technology Solutions. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Cognizant Technology Solutions in search of a potential trend change.

In the past 52 weeks, Cognizant Technology Solutions share prices have been bracketed by a low of $51.22 and a high of $69.80 and are now at $59.33, 16% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

Keywords: rebounders Cognizant Technology Solutions

Ticker(s): CTSH