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IT Consulting & Other Services Industry Stocks Technical Analysis - CTSH

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- 3/15/2024 -
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Cognizant Technology Solutions Corp. (CTSH) Technical Analysis

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Summary:
Weekly :Overbought sectorTrend resistance at 74.94
Daily :Lane's Stochastic is oversold
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It was the negative week for the Cognizant Technology Solutions Corp. (CTSH). During the week, the CTSH dropped -1.44 points, or -1.88%, and closed at 75.33 on Friday, March 15, 2024. Weekly volume was 15% 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 price is near the trend resistance line (74.94). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See CTSH medium-term trend chart]
A medium-term uptrend had started on November 2, 2023 at 62.14 and reached 80.09 on February 23, 2024. CTSH gained -17.95 points, or -28.89%, in 16 weeks. The price is now at the 26.52% retracement level.

Weekly Technical Indicators: [See CTSH weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 23, 2024 at 80.09 and reached 75.13 on March 15, 2024. CTSH lost 4.96 points, or 6.19%, in 21 days. Price is near the trend low.

Daily Technical Indicators: [See CTSH daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. 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 Lane's Stochastic 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 25.06
Williams' Percentage Range (W%R) 77.40
Lane's Stochastic (%D-Slow) 15.16
Oversold
Greed/Fear Indicator (GFI) 20.93
Moving Average Converg./Diverg. (MACD) 0.12
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.86
Williams' Percentage Range (W%R) 21.40
Lane's Stochastic (%D-Slow) 71.52
Greed/Fear Indicator (GFI) 66.49
Moving Average Converg./Diverg. (MACD) 2.69
Trading Signals
Description Value Chart
Upper Bollinger Band 79.75
Parabolic System 79.04
Weekly Stochastic Crossing 78.53
20 Day Moving Average 77.79
50 Day Moving Average 77.03
Daily Stochastic Crossing 75.69
Price 75.33
Quarterly Trendline Resistance 74.94
Lower Bollinger Band 74.84
Quarterly Trendline Support 66.28
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry IT Consulting & Other Services 77
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 77.96
High Date 03/07/2024
Low 75.13
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 80.09
High Date 02/23/2024
Low 75.13
Low Date 03/15/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 62.14
Low Date 11/02/2023
High 80.09
High Date 02/23/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Test Resistance
Resistance 74.94
Support 66.28
Low 51.33
Low Date 11/03/2022
High 80.09
High Date 02/23/2024
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.