CTSH - Trigger is activated for a Long!
The long-term previous top of
CTSH
has been broken in December 2021. Since then, this stock has been doing a nice pullback to the broken zone, which I expect to be acted as the new support line of the chart. During January, February and April 2022, the price retouched this support line, and each time couldn't break it, which shows the high amounts of Limit Buy orders on the line. Two buying scenarios can be organized here, either for risk takers or risk-averse investors:
Risk-takers can enter with the stop loss of $79, since if the stop loss hits, the trend will be completely changed to the downtrend.
Risk-averse investors can wait for a breakup and a slow pullback on $92.2, which is the highest high on the chart.
Price and time target of both positions are mentioned on the chart as "PRZ & TRZ".
CTSH
has been broken in December 2021. Since then, this stock has been doing a nice pullback to the broken zone, which I expect to be acted as the new support line of the chart. During January, February and April 2022, the price retouched this support line, and each time couldn't break it, which shows the high amounts of Limit Buy orders on the line. Two buying scenarios can be organized here, either for risk takers or risk-averse investors: Risk-takers can enter with the stop loss of $79, since if the stop loss hits, the trend will be completely changed to the downtrend.
Risk-averse investors can wait for a breakup and a slow pullback on $92.2, which is the highest high on the chart.
Price and time target of both positions are mentioned on the chart as "PRZ & TRZ".