SmarTrend Watching for Potential Rebound in Shares of Cognizant Technology Solutions After 3.35% Loss
Cognizant Technology Solutions (NASDAQ:CTSH) traded in a range yesterday that spanned from a low of $54.50 to a high of $55.77. Yesterday, the shares fell 3.4%, which took the trading range below the 3-day low of $55.05 on volume of 2.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
SmarTrend recommended that its subscribers protect gains by selling shares of Cognizant Technology Solutions on June 16th, 2016 by issuing a Downtrend alert when the shares were trading at $59.22. Since that call, shares of Cognizant Technology Solutions have fallen 4.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
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 $54.66, which is 7% 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.
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