CTSH - Trigger is activated for a Long!The long-term previous top of NASDAQ:CTSH has been broken in December 2021. Since then, this stock has been doing a nice pullback to the broken zone, which I expect to be acted as the new support line of the chart. During January, February and April 2022, the price retouched this support line, and each time couldn't break it, which shows the high amounts of Limit Buy orders on the line. Two buying scenarios can be organized here, either for risk takers or risk-averse investors:
Risk-takers can enter with the stop loss of $79, since if the stop loss hits, the trend will be completely changed to the downtrend.
Risk-averse investors can wait for a breakup and a slow pullback on $92.2, which is the highest high on the chart.
Price and time target of both positions are mentioned on the chart as "PRZ & TRZ".
CTSH
CTSH - Back to top!EN: Another pushed Friday, the stock seems to reach my target of $70. The lower trend line of his short term trend resists well!
FR: Un autre poussé vendredi, le stock semble bien vouloir atteindre ma cible de 70$. Sa ligne de tendance inférieure de sa tendance court terme résiste bien!
Cognizant climbs higher in volumeNASDAQ:CTSH
Despite broader market action being questionable, Cognizant appears to be one bright spot that is attracting large scale buyers since 12th January.
Cognizant has encouraging Sales and E.P.S growth which was 23% and 15% respectively last quarter, with an Annual ROE of 23%.
With the next earnings release just 12 days away, this could be false hope in the shape of a retracement from around the $70 level or the start of something new.