COGNIZANT TECHNOLOGY SOLUTIONS - Daily - Technical analysis published on 05/01/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
67%
17%
My opinion
Bearish under 69.12 USD
My targets
63.59 USD (-2.99%)
56.09 USD (-14.43%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on COGNIZANT TECHNOLOGY SOLUTIONS as long as the price remains well below 69.12 USD. The sellers' bearish objective is set at 63.59 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 56.09 USD. In case of crossing, the next objective would be the support located at 50.60 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7.7
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The COGNIZANT TECHNOLOGY SOLUTIONS price is 65.55 USD. The price registered a decrease of -0.20% on the session with the lowest point at 65.30 USD and the highest point at 65.99 USD. The deviation from the price is +0.38% for the low point and -0.67% for the high point.65.30
65.99
65.55
A bearish gap was detected at the opening by the Central Gaps scanner. There are a lot of sellers and they have the upper hand in the very short term.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by COGNIZANT TECHNOLOGY SOLUTIONS:
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 strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed 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.
An assessment of technical indicators shows a bearish signal.
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
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near support of channel
Type : Bullish
Timeframe : Daily
Horizontal support is broken
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 50.60 | 56.09 | 63.59 | 65.55 | 65.93 | 69.12 | 71.10 |
| Change (%) | -22.81% | -14.43% | -2.99% | - | +0.58% | +5.45% | +8.47% |
| Change | -14.95 | -9.46 | -1.96 | - | +0.38 | +3.57 | +5.55 |
| Level | Major | Minor | Major | - | Intermediate | Major | 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 | 63.99 | 64.77 | 65.23 | 66.01 | 66.47 | 67.25 | 67.71 |
| Camarilla | 65.34 | 65.45 | 65.57 | 65.68 | 65.79 | 65.91 | 66.02 |
| Woodie | 63.82 | 64.69 | 65.06 | 65.93 | 66.30 | 67.17 | 67.54 |
| Fibonacci | 64.77 | 65.25 | 65.54 | 66.01 | 66.49 | 66.78 | 67.25 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 63.56 | 64.88 | 65.91 | 67.23 | 68.26 | 69.58 | 70.61 |
| Camarilla | 66.29 | 66.51 | 66.73 | 66.94 | 67.16 | 67.37 | 67.59 |
| Woodie | 63.42 | 64.81 | 65.77 | 67.16 | 68.12 | 69.51 | 70.47 |
| Fibonacci | 64.88 | 65.78 | 66.33 | 67.23 | 68.13 | 68.68 | 69.58 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 55.97 | 60.77 | 63.22 | 68.02 | 70.47 | 75.27 | 77.72 |
| Camarilla | 63.69 | 64.35 | 65.02 | 65.68 | 66.35 | 67.01 | 67.67 |
| Woodie | 54.81 | 60.18 | 62.06 | 67.43 | 69.31 | 74.68 | 76.56 |
| Fibonacci | 60.77 | 63.54 | 65.25 | 68.02 | 70.79 | 72.50 | 75.27 |
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): | 23.94 | |
| MACD (12,26,9): | -1.9100 | |
| Directional Movement: | -22.78 | |
| AROON (14): | -100.00 | |
| DEMA (21): | 65.83 | |
| Parabolic SAR (0,02-0,02-0,2): | 67.89 | |
| Elder Ray (13): | -1.75 | |
| Super Trend (3,10): | 68.89 | |
| Zig ZAG (10): | 65.55 | |
| VORTEX (21): | 0.6900 | |
| Stochastique (14,3,5): | 4.70 | |
| TEMA (21): | 65.38 | |
| Williams %R (14): | -94.74 | |
| Chande Momentum Oscillator (20): | -2.86 | |
| Repulse (5,40,3): | -2.0100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.3900 | |
| Courbe Coppock: | 10.71 |
| MA7: | 66.68 | |
| MA20: | 68.43 | |
| MA50: | 72.93 | |
| MA100: | 74.16 | |
| MAexp7: | 66.54 | |
| MAexp20: | 68.38 | |
| MAexp50: | 71.18 | |
| MAexp100: | 71.98 | |
| Price / MA7: | -1.69% | |
| Price / MA20: | -4.21% | |
| Price / MA50: | -10.12% | |
| Price / MA100: | -11.61% | |
| Price / MAexp7: | -1.49% | |
| Price / MAexp20: | -4.14% | |
| Price / MAexp50: | -7.91% | |
| Price / MAexp100: | -8.93% |
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 enters into a strategic partnership with Telstra to elevate software engineering capabilities and enhance customer experience
- Cognizant enters into a strategic partnership with Telstra to elevate software engineering capabilities and enhance customer experience
- Cognizant's Bluebolt Program Delivers More Than $150M in Estimated Annualized Cost Savings for Enterprises
- Cognizant and FICO Partner to Help Banks Prevent Real-Time Payments Fraud
- Cognizant Has Awarded $70 Million to Advance Globally Diverse Communities
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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