The Greedy Trader Weekly Analysis
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Uptrend Support

Uptrend Support stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Support stock alert indicates that price is near long-term support trendline and probability of short-term trend reversal is high. The strategy here is to take advantage of established uptrend price pullback and entering the long position just prior to the continuation of the trend. The strategy has relatively low risk.

Uptrend Support

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- 11/24/2023 -
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Cognizant Technology Solutions Corp. (CTSH) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overbought
Daily :Williams' Percentage Range and Lane's Stochastic are strongly overboughtStochastic has declined below the signal line
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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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 78.16
Williams' Percentage Range (W%R) 6.10
Strong Overbought
Lane's Stochastic (%D-Slow) 95.37
Strong Overbought
Greed/Fear Indicator (GFI) 89.15
Overbought
Moving Average Converg./Diverg. (MACD) 0.45
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.90
Williams' Percentage Range (W%R) 16.80
Overbought
Lane's Stochastic (%D-Slow) 39.46
Greed/Fear Indicator (GFI) 57.38
Moving Average Converg./Diverg. (MACD) 0.98
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 73.83
Upper Bollinger Band 72.71
Daily Stochastic Crossing 71.27
Price 71.17
Parabolic System 68.61
50 Day Moving Average 67.20
20 Day Moving Average 66.81
Weekly Stochastic Crossing 66.67
Quarterly Trendline Support 66.57
Lower Bollinger Band 62.92
Sector and Industry
Description Name Rank
Sector Information Technology 10
Industry IT Consulting & Other Services 110
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
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 62.14
Low Date 11/02/2023
High 71.50
High Date 11/24/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 72.71
High Date 08/07/2023
Low 62.14
Low Date 11/02/2023
Quarterly Trend
Yearly Trend
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
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 93.47
High Date 03/22/2022
Low 51.33
Low Date 11/03/2022
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.