Cognizant Tech (CTSH) shares of the IT services name are coiling up in a tight bull flag just above the 80 level and looking to breakout through one year value area high of 81.50 for a move higher that can target 85-86 first where a VPOC from early this year still is untested. CTSH has 700 January $80 short puts in OI still and the 1500 June $85 long puts will expire next week that can release some of the current resistance holding it down. CTSH raised its annual revenue forecast and beat first-quarter results last month, driven by increased demand for AI-powered IT services.