Back to top

Image: Bigstock

Cognizant (CTSH) Just Reclaimed the 200-Day Moving Average

Read MoreHide Full Article

Cognizant (CTSH - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, CTSH crossed above the 200-day moving average, suggesting a long-term bullish trend.

The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.

Moving Average Chart for CTSH

CTSH could be on the verge of another rally after moving 11.2% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.

The bullish case solidifies once investors consider CTSH's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 9 higher, while the consensus estimate has increased too.

Investors should think about putting CTSH on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.


In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Cognizant Technology Solutions Corporation (CTSH) - free report >>

Published in