COGNIZANT TECHNOLOGY SOLUTIONS - Daily - Technical analysis published on 04/15/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
11%
67%
22%
My opinion
Bearish under 71.10 USD
My targets
63.59 USD (-8.16%)
56.09 USD (-18.99%)
My analysis
In the short term, we can see an acceleration in the bearish trend on COGNIZANT TECHNOLOGY SOLUTIONS, which is a positive signal for sellers. As long as the price remains above 71.10 USD, a sale could be considered. The first bearish objective is located at 63.59 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 56.09 USD as an objective. Crossing it would then enable sellers to target 50.60 USD. If the price were to return above 71.10 USD, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
6.1
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Additional analysis
Quotes
COGNIZANT TECHNOLOGY SOLUTIONS rating 69.24 USD. The price registered a decrease of -0.03% on the session and was traded between 68.98 USD and 70.24 USD over the period. The price is currently at +0.38% from its lowest and -1.42% from its highest.68.98
70.24
69.24
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of COGNIZANT TECHNOLOGY SOLUTIONS indicates that the overall trend is bearish. The signals given by moving averages are 75.00% bearish. This bearish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
Technical indicators are bearish. There is still some doubt about the decline in the price.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : Daily
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
CCI indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near support of channel
Type : Bullish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 56.09 | 63.59 | 69.12 | 69.24 | 71.10 | 75.23 | 78.03 |
| Change (%) | -18.99% | -8.16% | -0.17% | - | +2.69% | +8.65% | +12.69% |
| Change | -13.15 | -5.65 | -0.12 | - | +1.86 | +5.99 | +8.79 |
| Level | Minor | Major | Major | - | Major | Intermediate | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 67.83 | 68.43 | 68.84 | 69.44 | 69.85 | 70.45 | 70.86 |
| Camarilla | 68.98 | 69.08 | 69.17 | 69.26 | 69.35 | 69.45 | 69.54 |
| Woodie | 67.75 | 68.38 | 68.76 | 69.39 | 69.77 | 70.40 | 70.78 |
| Fibonacci | 68.43 | 68.81 | 69.05 | 69.44 | 69.82 | 70.06 | 70.45 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 65.54 | 67.28 | 68.27 | 70.01 | 71.00 | 72.74 | 73.73 |
| Camarilla | 68.51 | 68.76 | 69.01 | 69.26 | 69.51 | 69.76 | 70.01 |
| Woodie | 65.17 | 67.09 | 67.90 | 69.82 | 70.63 | 72.55 | 73.36 |
| Fibonacci | 67.28 | 68.32 | 68.97 | 70.01 | 71.05 | 71.70 | 72.74 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 61.95 | 66.78 | 70.03 | 74.86 | 78.11 | 82.94 | 86.19 |
| Camarilla | 71.07 | 71.81 | 72.55 | 73.29 | 74.03 | 74.77 | 75.51 |
| Woodie | 61.17 | 66.39 | 69.25 | 74.47 | 77.33 | 82.55 | 85.41 |
| Fibonacci | 66.78 | 69.86 | 71.77 | 74.86 | 77.94 | 79.85 | 82.94 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 29.00 | |
| MACD (12,26,9): | -1.6300 | |
| Directional Movement: | -19.90 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 69.94 | |
| Parabolic SAR (0,02-0,02-0,2): | 70.90 | |
| Elder Ray (13): | -1.54 | |
| Super Trend (3,10): | 73.07 | |
| Zig ZAG (10): | 69.24 | |
| VORTEX (21): | 0.6800 | |
| Stochastique (14,3,5): | 9.98 | |
| TEMA (21): | 69.14 | |
| Williams %R (14): | -93.91 | |
| Chande Momentum Oscillator (20): | -4.33 | |
| Repulse (5,40,3): | -2.3700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.3000 | |
| Courbe Coppock: | 8.42 |
| MA7: | 70.40 | |
| MA20: | 72.02 | |
| MA50: | 75.35 | |
| MA100: | 74.55 | |
| MAexp7: | 70.28 | |
| MAexp20: | 72.03 | |
| MAexp50: | 73.80 | |
| MAexp100: | 73.33 | |
| Price / MA7: | -1.65% | |
| Price / MA20: | -3.86% | |
| Price / MA50: | -8.11% | |
| Price / MA100: | -7.12% | |
| Price / MAexp7: | -1.48% | |
| Price / MAexp20: | -3.87% | |
| Price / MAexp50: | -6.18% | |
| Price / MAexp100: | -5.58% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
The latest news and videos published on COGNIZANT TECHNOLOGY SOLUTIONS at the time of the analysis were as follows:
- Cognizant Has Awarded $70 Million to Advance Globally Diverse Communities
- Cognizant Has Awarded $70 Million to Advance Globally Diverse Communities
- Cognizant Has Awarded $70 Million to Advance Globally Diverse Communities
- Cognizant Schedules First Quarter 2024 Earnings Release and Conference Call
- Cognizant signs a large, global infrastructure agreement with McCormick & Company, Inc.
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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