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Uptrend SupportArchive
- 11/24/2023 -
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Cognizant Technology Solutions Corp. (CTSH) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a second consecutive positive week for the Cognizant Technology Solutions Corp. (CTSH). During the week, the CTSH gained 1.64 points, or 2.36%, and closed at 71.17 on Friday, November 24, 2023. Weekly volume was -43% 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 uptrend had started on November 3, 2022 at 51.33 and reached 72.71 on August 7, 2023. CTSH gained -21.38 points, or -41.65%, in 39 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 66.57 and resistance is at 73.83. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.
 Medium-term trend: [See CTSH medium-term trend chart]
A medium-term downtrend had started on August 7, 2023 at 72.71 and reached 62.14 on November 2, 2023. CTSH lost 10.57 points, or 14.54%, in 12 weeks. The price is now at the 85.43% retracement level.
 Weekly Technical Indicators: [See CTSH weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 Williams' Percentage Range help.
The weekly MACD line is below its signal line since September 29, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See CTSH short-term trend chart]
A short-term uptrend had started on November 9, 2023 at 64.49 and reached 71.50 on November 24, 2023. CTSH gained -7.01 points, or -10.87%, in 15 days. Price is near the trend high.
 Daily Technical Indicators: [See CTSH daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. 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. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since November 2, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Information Technology |
10 |
| Industry |
IT Consulting & Other Services |
110 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
64.49 |
| Low Date |
11/09/2023 |
| High |
71.50 |
| High Date |
11/24/2023 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
62.14 |
| Low Date |
11/02/2023 |
| High |
71.50 |
| High Date |
11/24/2023 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
72.71 |
| High Date |
08/07/2023 |
| Low |
62.14 |
| Low Date |
11/02/2023 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Valid |
| Resistance |
73.83 |
| Support |
66.57 |
| Low |
51.33 |
| Low Date |
11/03/2022 |
| High |
72.71 |
| High Date |
08/07/2023 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
93.47 |
| High Date |
03/22/2022 |
| Low |
51.33 |
| Low Date |
11/03/2022 |
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