CTSH34 trade ideas
CTSH SwingThink this is bottoming
RSI daily at 30 and rising
Closed above horizontal support of 75.45
MACD about to cross on daily up
ENTRY:76.00
SL:75.20 (1% risk)
TP1: 78.5
TP2:81.77
$CTSH Part 2 - LongPart 2 of $CTSH - except this week I'm long. You can check out original idea here -
Selloff to the $74.85 range was predictable before seeing an upside. Despite the significance in the drop, the setup pointing towards a heavy move back upwards to the $80 (& eventually around $81.50) range looks almost like a textbook correction (for now, at least). Most ideal entry to go long is about $76.90 (wouldn't expect any large moves up until then). Rectangle boxes surrounding both yellow & green EMA should act as a priority indicator. In any case, they'll bounce off lower EMA (soon after price gets to high $76 range) - if true, then this is considerably, an A+ setup.
$CTSH Skrt SkrtTook me 18 secs or so to finish this one. Little challenging pattern here, but, you know. My guesstimate is $73-$75. While were @ this disappointing earnings report, anyone else notice their internal investigation by DOJ & SEC for $6M in "improper payments" between 2009-2016? Makes me wonder why wasn't brought up on the earnings call. "A little -$.04 miss by EPS guidance.... no biggie" ta loca
CTSH Bearish Outlook for Approx 50%I found CTSH to have an incline wedge pattern. Significant of a bearish pattern and correlated with the DJI+SPX+NASDAQ. Incline wedge have had good indicators of a large bearish move. Wait for stock to break out of wedge + break support.
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.
Not all signals are created equal.Cognizant Technology Solutions (CTSH) shows a DecisionBar Short Exhaustion signal.
Note that you can look ahead on TradingView charts to see when future earnings (E) will be announced, as well as when past earnings were announced. Given the run up following the previous earnings report, I would be hesitant to take a short position on CTSH.
