Cognizant Tech Solutions stock saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, rising from 80 to 85.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating identifies technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research reveals that the best stocks often have an 80 or higher RS Rating as they begin their biggest price moves.
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Is Cognizant Tech Solutions Stock A Buy?
Cognizant Tech Solutions stock is now considered extended and out of buy range after clearing a 72.70 buy point in a first-stage flat base. See if the tech stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Top and bottom line growth moved higher last quarter. Earnings were up -1%, compared to -4% in the prior report. Revenue increased from 0% to 1%. Keep an eye out for the company's next round of numbers on or around Feb. 1.
Cognizant Tech Solutions stock earns the No. 15 rank among its peers in the Computer-Technical Services industry group. Globant and ePlus are also among the group's highest-rated stocks.
