Cognizant Technology Solutions Corp Stock Forecast
Cognizant Technology Solutions Corp stock downgraded to Sell Candidate
(Updated on Mar 28, 2024)
The Cognizant Technology Solutions Corp stock price fell by -0.448% on the last day (Thursday, 28th Mar 2024) from $73.62 to $73.29. During the last trading day the stock fluctuated 1.26% from a day low at $73.14 to a day high of $74.06. The price has fallen in 6 of the last 10 days and is down by -4.01% for this period. Volume has increased on the last day by 5 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 8 million shares were bought and sold for approximately $551.86 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $71.89 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Cognizant Technology Solutions Corp stock with a 90% probability to be traded between $71.73 and $79.57 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CTSH Signals & Forecast
There are mixed signals in the stock today. The Cognizant Technology Solutions Corp stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $76.53. On a fall, the stock will find some support from the short-term average at $72.99. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 1.93%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Cognizant Technology Solutions Corp stock
Cognizant Technology Solutions Corp finds support from accumulated volume at $72.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.92 between high and low, or 1.26%. For the last week, the stock has had daily average volatility of 1.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CTSH) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Cognizant Technology Solutions Corporation to open at $73.50, and during the day (based on 14 day Average True Range), to move between $72.06 and $74.52, which gives a possible trading interval of +/-$1.23 (+/-1.68%) up or down from last closing price. If Cognizant Technology Solutions Corporation takes out the full calculated possible swing range there will be an estimated 3.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $72.58 (0.97%) than the resistance at $75.09 (2.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cognizant Technology Solutions Corporation stock A Buy?
Cognizant Technology Solutions Corp holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.220 Sell Candidate Downgraded
Predicted Opening Price for Cognizant Technology Solutions Corporation of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$73.50 ( 0.282%) | $73.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTSH
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 74.42 | 1.54 % | |
R2 | 74.07 | 1.06 % | ||
R1 | 73.85 | 0.762 % | ||
Current price: | 73.29 | |||
Support | S1 | 73.15 | -0.198 % | |
S2 | 72.93 | -0.494 % | ||
S3 | 72.58 | -0.97 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 78.30 | 6.84 % | |
R2 | 75.33 | 2.78 % | ||
R1 | 75.09 | 2.46 % | ||
Current price | 73.29 | |||
Support | S1 | 72.58 | -0.97% | |
S2 | 72.01 | -1.75% | ||
S3 | 71.90 | -1.90% |
CTSH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 06, 2024 | Feb 16, 2024 | Feb 28, 2024 | $0.300 | 0.382% |
2 | Nov 01, 2023 | Nov 20, 2023 | Nov 30, 2023 | $0.290 | 0.412% |
3 | Aug 02, 2023 | Aug 18, 2023 | Aug 29, 2023 | $0.290 | 0.406% |
4 | May 03, 2023 | May 18, 2023 | May 30, 2023 | $0.290 | 0.464% |
5 | May 15, 2023 | Feb 16, 2023 | Feb 28, 2023 | $0.290 | 0.463% |
FAQ
Click here for our free guide on how to buy Cognizant Technology Solutions Corporation Stock.