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Cognizant Tech-A Looks to Continue to Trade Below its Annual-Low Share Price Today

By Amy Schwartz

Cognizant Tech-A (NASDAQ:CTSH) traded at a new 52-week low today of $43.01. This new low was reached on below average trading volume as 207,000 shares traded hands, while the average 30-day volume is approximately 4.9 million shares.

There is potential upside of 106.6% for shares of Cognizant Tech-A based on a current price of $43.49 and an average consensus analyst price target of $89.85. The stock should find initial resistance at its 50-day moving average (MA) of $61.26 and further resistance at its 200-day MA of $62.21.

Cognizant Technology Solutions Corporation provides custom information technology (IT) consulting and technology services, as well as outsourcing services. The Company focuses on technology strategy consulting, complex systems development, enterprise software package implementation and maintenance, data warehousing, and business intelligence.

In the past 52 weeks, Cognizant Tech-A share prices have been bracketed by a current low of $43.01 and a high of $74.85 and are now at $43.49. The 200-day and 50-day moving averages have moved 0.61% lower and 2.33% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Cognizant Tech-A on February 28th, 2020 by issuing a Downtrend alert when the shares were trading at $60.56. Since that call, shares of Cognizant Tech-A have fallen 27.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows cognizant tech-a

Ticker(s): CTSH