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Watch for Cognizant Tech-A to Potentially Pullback After Gaining 1.50% Yesterday

By Nick Russo

Cognizant Tech-A (NASDAQ:CTSH) traded in a range yesterday that spanned from a low of $81.44 to a high of $83.05. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $82.10 on volume of 1.1 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, Cognizant Tech-A share prices have been bracketed by a low of $66.65 and a high of $85.10 and are now at $82.96, 24% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

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