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- 4/19/2024 -
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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 -1.82 points, or -2.63%, and closed at 67.44 on Friday, April 19, 2024. CTSH was trading at average weekly trading volume.
 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 price is now at the 43.98% retracement level.
 Medium-term trend: [See CTSH medium-term trend chart]
A medium-term downtrend had started on February 23, 2024 at 80.09 and reached 66.60 on April 18, 2024. CTSH lost 13.49 points, or 16.84%, in 7 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 64.18 and resistance is at 69.57. 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 Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.
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 near its 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 April 9, 2024 at 71.75 and reached 66.60 on April 18, 2024. CTSH lost 5.15 points, or 7.18%, in 9 days. The price is now at the 16.31% retracement level.
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. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.
The daily MACD line is below its signal line since March 4, 2024. This is an indication that the short-term trend is down.
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