Trading Idea - Cognizant Technology Solutions Broke Resistance, What to Expect?

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Trading Idea - Cognizant Technology Solutions Broke Resistance, What to Expect?

Published on Wednesday, 25 January 2012 06:36 Written by Christian Paolinetti

New York, January 25th (TradersHuddle.com) - Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) closed the trading session at $71.18 just above calculated resistance at $70.88 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) provides custom Information Technology (IT) consulting and technology services as well as outsourcing services. The Company focus in technology strategy consulting, complex systems development, and enterprise software package implementation.

Cognizant's stock was trading in a well defined range with support at $62.96 and resistance at $70.88, given that this range was broken traders will be closely monitoring the stock

Cognizant Technology Solutions Corporation (CTSH): Today's Featured Computer Software & Services Winner - TheStreet.com
UPDATE: Jefferies Reduces PT to $76 on Cognizant Technology Solutions - Benzinga
Cognizant Technology Rises On Unusually High Volume (CTSH) - TheStreet.com
Cognizant Technology: S&P Intraday Gainer - TheStreet.com
UPDATE: Goldman Sachs Lowers Cognizant's PT - Benzinga
UPDATE: J.P. Morgan Lowers Cognizant's PT - Benzinga
Cognizant Technology Solutions Corporation (CTSH): Today's Featured Computer Software & Services Loser - TheStreet.com
Cognizant Technology: S&P Intraday Laggard - TheStreet.com
Yahoo! Cognizant, Sirius XM: Premarket Movers - TheStreet.com
Cognizant Down 12% Pre-Market After Lowering Full Year Guidance - Benzinga

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