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Watch for Cognizant Tech-A to Potentially Rebound After Falling 5.51% Yesterday

By James Quinn

Cognizant Tech-A (NASDAQ:CTSH) traded in a range yesterday that spanned from a low of $50.87 to a high of $52.67. Yesterday, the shares fell 5.5%, which took the trading range below the 3-day low of $54.24 on volume of 2.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Cognizant Tech-A share prices have moved between a 52-week high of $71.48 and a 52-week low of $40.01 and are now trading 25% above that low price at $50.17 per share. The 200-day and 50-day moving averages have moved 0.27% lower and 0.66% lower over the past week, respectively.

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