The Greedy Trader Weekly Analysis
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Cognizant Technology Solutions Corp. (CTSH)

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Summary:
Weekly :Overbought sector
Daily :Bearish Harami CandlestickBroken trend resistance linePrice has crossed above the 50 Day Moving AverageThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the Cognizant Technology Solutions Corp. (CTSH). During the week, the CTSH gained 1.05 points, or 1.94%, and closed at 55.21 on Friday, June 26, 2020. Weekly volume was -39% below average.

CTSH is a member of Information Technology Sector. Information Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See CTSH long-term trend chart]
A long-term downtrend had started on March 15, 2018 at 85.10 and reached 40.01 on March 23, 2020. CTSH lost 45.09 points, or 52.98%, in 105 weeks. The price is now at the 33.71% retracement level.

Medium-term trend: [See CTSH medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 40.01 and reached 59.70 on April 29, 2020. CTSH gained -19.69 points, or -49.21%, in 5 weeks. The chart has formed a Ascending Triangle chart pattern. The trend support level is at 53.37 and resistance is at 58.94. An Ascending Triangle is a variation of triangle formation that has a flat resistance line and rising support line. The higher lows indicate an increasing demand and give the ascending triangle definitive bullish bias. An Ascending Triangle usually represents an accumulation stage in bullish market. An Ascending Triangle is considered to be a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Use the following link to access a Ascending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Ascending Triangle pattern in a medium-term trend.

Weekly Technical Indicators: [See CTSH weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since May 22, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See CTSH short-term trend chart]
A short-term downtrend had started on June 5, 2020 at 59.22 and reached 52.50 on June 15, 2020. CTSH lost 6.72 points, or 11.35%, in 10 days. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (54.00) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.

Daily Technical Indicators: [See CTSH daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since June 12, 2020. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Candlestick pattern: [See CTSH candlestick chart pattern]
On Friday the chart has formed a Bearish Harami Candlestick pattern. A Bearish Harami pattern occurs in an uptrend. It shows the bulls’ upward drive has weakened and now a trend reversal is possible. The reliability of the Bearish Harami pattern is low. Use the Technical Stock Screener to see the list of stocks that had a Bearish Harami Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.18
Williams' Percentage Range (W%R) 57.10
Lane's Stochastic (%D-Slow) 46.29
Greed/Fear Indicator (GFI) 42.45
Moving Average Converg./Diverg. (MACD) 0.28
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.94
Williams' Percentage Range (W%R) 51.20
Lane's Stochastic (%D-Slow) 66.68
Greed/Fear Indicator (GFI) 57.70
Moving Average Converg./Diverg. (MACD) -2.21
Trading Signals
Description Value Chart
Monthly Trendline Resistance 58.94
Upper Bollinger Band 57.83
Weekly Stochastic Crossing 55.32
20 Day Moving Average 55.25
Price 55.21
Daily Stochastic Crossing 54.67
50 Day Moving Average 54.58
Weekly Trendline Resistance 54.51
Weekly Trendline Support 54.00
Parabolic System 53.52
Monthly Trendline Support 53.37
Lower Bollinger Band 51.83
Sector and Industry
Description Name Rank
Sector Information Technology 12
Industry IT Consulting & Other Services 49
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 53.77
Low Date 06/24/2020
High 55.67
High Date 06/25/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 54.51
Support 54.00
High 59.22
High Date 06/05/2020
Low 52.50
Low Date 06/15/2020
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Valid
Resistance 58.94
Support 53.37
Low 40.01
Low Date 03/23/2020
High 59.70
High Date 04/29/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 71.48
High Date 02/06/2020
Low 40.01
Low Date 03/23/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 85.10
High Date 03/15/2018
Low 40.01
Low Date 03/23/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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