Cognizant Technology Solutions (CTSH) traded 5% lower on Monday morning, after reporting in-line earnings that missed Wall Street expectations for guidance.
The company reported earnings per share of $1.06 and total revenue of $3.91 billion, compared to estimates of $1.06 and $3.9 billion.
For Q2, the company expects earnings of $1.09 and revenue of $4 billion, both of which are just below the consensus of $1.12 and $4.02 billion.
Looking at the CTSH weekly chart, the stock has been solidly positive, however now it’s at the top of a support zone and the end of the current market cycle.
From here, we expect a bounce coming in a week or so. However, a drop below $75 would be a negative signal.
For an introduction to cycle analysis, check out our Stock Market Cycles video.
Cognizant Technology Solutions (CTSH) Stock Chart with Weekly Bars
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