Coming back to the old guard

Remember $CTSH?

$CTSH had a monster run from a low $14 to $83 from late 2008 to early 2011 before it started having hiccup over the next two years.  I believe the current hiccup has come to a conclusion and price may just be heading back up soon.

Take a look at the weekly chart below:

CTSH_weekly2

Take a close look at the weekly chart again:

CTSH_weekly

As you can see, this week may confirm the Bullish Harami weekly candlestick pattern for a bullish reversal.  Momentum indicators are also coming back up from the low point.

Take a look at the daily chart below:

CTSH_daily

Price took off after positive earnings report and the momentum may continue with the 5 ma line crossed over the 15 ma line today.

My 2 cents.



Categories: CTSH

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