Cognizant Technology (CTSH) NewsBite - CTSH Trades To New Highs In Wake Of Strong Earnings Earlier This Month

Posted: Thursday, November 12, 2009 2:23 PM EDT

Cognizant Technology (NasdaqNM: CTSH) hit a new 52-Week high of $44.73 so far today. Currently the stock is up $0.04 (0.09%) to $44.22 on 1,039,359 shares traded. Today's high is up $29.84 from a 52-Week Low of $14.38. Cognizant Technology stock has been showing support around $43.24 and resistance in the $45.14 range. Technical indicators for the stock are bullish and S&P gives CTSH a positive 4 STARS (out of 5) buy ranking. The stock is trading up to a new 52 week high today, as traders continue to push shares higher following strong earnings earlier this month. If you are looking for a hedged play on CTSH the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 40 range. [ABR-Seven Summits Strategic Investments NewsBite]

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