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- 4/5/2024 -
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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 -2.16 points, or -2.95%, and closed at 71.13 on Friday, April 5, 2024. Weekly volume was 28% above average.
CTSH is a member of Information Technology Sector. Information Technology is the second 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 80.09 on February 23, 2024. CTSH gained -28.76 points, or -56.03%, in 68 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 66.87 and resistance is at 75.14. 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 February 23, 2024 at 80.09 and reached 71.07 on April 5, 2024. CTSH lost 9.02 points, or 11.26%, in 6 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 68.09 and resistance is at 72.84. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending 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 below its signal line since March 15, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 March 28, 2024 at 74.07 and reached 71.07 on April 5, 2024. CTSH lost 3.00 points, or 4.05%, in 8 days. Price is near the trend low.
 Daily Technical Indicators: [See CTSH daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. Daily Relative Strength Index and MACD have bullish divergence. Use the following links to access the Relative Strength Index and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is below its signal line since March 4, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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.
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