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Next Support Level for Cognizant Technology Solutions (CTSH) is $76.94

Published on Wed, 02/06/2013 - 13:40
By Peter Chu

Shares of Cognizant Technology Solutions (NASDAQ:CTSH) opened today below their pivot of $78.19 and have already reached the first level of support at $77.35. Should the shares continue to fall, the support pivots of $76.94 and $75.69 will be of interest.

There is potential upside of 2.8% for shares of Cognizant Technology Solutions based on a current price of $77.41 and an average consensus analyst price target of $79.60. The stock should discover initial support at its 50-day moving average (MA) of $73.81 and subsequent support at its 200-day MA of $66.42.

Cognizant Technology Solutions Corporation provides custom Information Technology (IT) consulting and technology services as well as outsourcing services. The Company's core competencies include technology strategy consulting, complex systems development, enterprise software package implementation and maintenance, data warehousing and business intelligence.

In the past 52 weeks, shares of Cognizant Technology Solutions have traded between a low of $53.92 and a high of $79.54 and are now at $77.41, which is 44% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has remained constant.

By Peter Chu
pchu@fnno.com

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