Cognizant Technology Solutions Corp. (CTSH)
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|It was the negative week for the Cognizant Technology Solutions Corp. (CTSH). During the week, the CTSH gave back -0.13 points, or -0.21%, and closed at 62.88 on Friday, May 26, 2023. Weekly volume was -30% 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 22, 2022 at 93.47 and reached 51.33 on November 3, 2022. CTSH lost 42.14 points, or 45.08%, in 32 weeks. The price is now at the 27.41% retracement level.
Medium-term trend: [See CTSH medium-term trend chart]
A medium-term uptrend had started on November 3, 2022 at 51.33 and reached 70.86 on February 2, 2023. CTSH gained -19.53 points, or -38.05%, in 13 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 59.54 and resistance is at 84.55. 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 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 April 28, 2023. 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 February 2, 2023 at 70.86 and reached 56.45 on March 15, 2023. CTSH lost 14.41 points, or 20.34%, in 41 days. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (59.33) 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 above its signal line since May 3, 2023. The distance between MACD and the signal line is low and getting smaller.
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.