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.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for uptrend support trend trading. Technical analysis of stock trend and uptrend support trend trading.
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Cognizant Technology Solutions Corp. (CTSH)

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Summary:
Weekly :Overbought sector
Daily :The price has fallen below the Parabolic SARBroken trend resistance line
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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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.50
Williams' Percentage Range (W%R) 47.00
Lane's Stochastic (%D-Slow) 53.04
Greed/Fear Indicator (GFI) 54.19
Moving Average Converg./Diverg. (MACD) 0.65
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.22
Williams' Percentage Range (W%R) 60.40
Lane's Stochastic (%D-Slow) 56.70
Greed/Fear Indicator (GFI) 48.91
Moving Average Converg./Diverg. (MACD) -0.91
Trading Signals
Description Value Chart
Parabolic System 65.42
Upper Bollinger Band 64.81
Daily Stochastic Crossing 62.91
Price 62.88
Weekly Stochastic Crossing 62.74
20 Day Moving Average 62.14
50 Day Moving Average 60.69
Monthly Trendline Support 59.54
Lower Bollinger Band 59.46
Weekly Trendline Support 59.33
Weekly Trendline Resistance 56.09
Sector and Industry
Description Name Rank
Sector Information Technology 12
Industry IT Consulting & Other Services 68
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 56.45
Low Date 03/15/2023
High 65.43
High Date 05/04/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 56.09
Support 59.33
High 70.86
High Date 02/02/2023
Low 56.45
Low Date 03/15/2023
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 84.55
Support 59.54
Low 51.33
Low Date 11/03/2022
High 70.86
High Date 02/02/2023
Quarterly Trend
Yearly Trend
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
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 40.01
Low Date 03/23/2020
High 93.47
High Date 03/22/2022
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.

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