Cognizant Technology Solutions Close to the 200 Day

Published on Wednesday, 01 February 2012 06:44 Written by Christian Paolinetti

New York, February 1st (TradersHuddle.com) - Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded at $71.75 close to its 200 day moving average currently set at $69.44. Cognizant's price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

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.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $62.96 and calculated resistance at $72.48. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by Cognizant Technology Solutions stock.

Traders wanting to establish a position on Cognizant Technology Solutions will be looking at the price action for evidence of buying near the 200 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.