Cognizant Technology (CTSH) NewsBite - CTSH Hits 52-Week High

Posted: Tuesday, November 03, 2009 11:59 AM EDT

Cognizant Technology (NasdaqNM: CTSH) hit a new 52-Week high of $42.40 so far today. Currently the stock is up $2.52 (6.49%) to $41.32 on 5,266,671 shares traded. Today's high is up $26.94 from a 52-Week Low of $14.38. Cognizant Technology stock has been showing support around $37.64 and resistance in the $40.26 range. Technical indicators for the stock are bullish and S&P gives CTSH a positive 4 STARS (out of 5) buy ranking. The stock rose to a new 52 week high today after the company reported 45 cents per share for its third quarter, above the 41 cent estimate that Wall Street was expecting to see. 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 35 range. [ABR-Seven Summits Strategic Investments NewsBite]

Click Symbol For More News On: (CTSH)