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SmarTrend Watching for Potential Rebound in Shares of Cognizant Technology Solutions After 2.66% Loss

By Nick Russo

Cognizant Technology Solutions (NASDAQ:CTSH) traded in a range yesterday that spanned from a low of $56.52 to a high of $58.07. Yesterday, the shares fell 2.7%, which took the trading range below the 3-day low of $57.95 on volume of 3.2 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, shares of Cognizant Technology Solutions have traded between a low of $51.22 and a high of $69.80 and are now at $57.33, which is 12% above that low price. Over the past week, 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