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Archive
- 12/13/2024 -
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Cognizant Technology Solutions Corp. (CTSH) Technical Analysis
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| Summary:
| | | Weekly : | | Daily :  
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| | It was the negative week for the Cognizant Technology Solutions Corp. (CTSH). During the week, the CTSH dropped -1.08 points, or -1.33%, and closed at 80.06 on Friday, December 13, 2024. Weekly volume was -35% below average.
 Long-term trend: [See CTSH long-term trend chart]
A long-term uptrend had started on November 3, 2022 at 51.33 and reached 82.41 on November 13, 2024. CTSH gained -31.08 points, or -60.55%, in 105 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 67.37 and resistance is at 86.43. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See CTSH medium-term trend chart]
A medium-term uptrend had started on June 17, 2024 at 63.79 and reached 82.41 on November 13, 2024. CTSH gained -18.62 points, or -29.19%, in 21 weeks. The price is now at the 12.62% retracement level.
 Weekly Technical Indicators: [See CTSH weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since July 12, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 December 11, 2024 at 81.80 and reached 79.49 on December 13, 2024. CTSH lost 2.31 points, or 2.82%, in 2 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See CTSH daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price is close to 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.
 Candlestick pattern: [See CTSH candlestick chart pattern]
On Friday the chart has formed a Bullish Doji Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bullish Doji Candlestick pattern during the last week.
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