CADENCE DESIGN SYS INC (CDNS)
US1273871087 - Common Stock
Taking everything into account, CDNS scores 7 out of 10 in our technical rating. CDNS has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.
Both the short term and long term trends are positive. This is a very positive sign.
CDNS is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so CDNS is lagging the market slightly.
In the last month CDNS has a been trading in the 251.81 - 309.96 range, which is quite wide. It is currently trading near the high of this range.
CDNS has an average volume of 1910640 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When compared to the yearly performance of all other stocks, CDNS outperforms 63% of them, which is more or less in line with the market.
CDNS is part of the Software industry. There are 279 other stocks in this industry, CDNS did better than 49% of them.
CDNS has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 318.04. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 305.57, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
244.37
329.78
When analyzing the support we can see 6 important areas.
- A support zone ranging from 305.30 to 305.57. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 299.27 to 300.36. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 289.70 to 291.27. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @258.63 from a trend line in the weekly time frame.
- Support @252.71 from a horizontal line in the weekly time frame.
- Support @246.84 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 318.04 to 326.51. This zone is formed by a combination of multiple trend lines in multiple time frames.
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS63.5
Mansfield-0.5
10 Day High309.96
10 Day Low287.49
20 Day High309.96
20 Day Low251.81
52 Week High328.99
52 Week Low241.29
Performance
1 Week1.15%
2 Weeks1.59%
1 Month21.98%
3 Month11.91%
6 Month4.16%
12 Month13.27%
2 Year78.16%
3 Year72.72%
5 Year336.31%
10 Year1524.32%
15 Year5008.5%
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Technical Indicators
MACD(12,26,9)0.57
RSI(14)62.74
LBB287.57
UBB309.95
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 309.97 | 305.29 | 4.68 (1.51%) | 25.00% |
| An entry @309.97. This is a Buy Stop order right above the 10 day high. | An exit @305.29. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 4.68 points, which is 1.51%. | For a 0.38% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of CDNS. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
CADENCE DESIGN SYS INC
NASDAQ:CDNS (11/21/2024, 8:00:02 PM)
Premarket: 304.97 -1.54 (-0.5%)306.51
+2.5 (+0.82%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg0.82%
1 Week1.15%
2 Weeks1.59%
1 Month21.98%
3 Month11.91%
6 Month4.16%
12 Month13.27%
2 Year
3 Year
5 Year
10 Year
15 Year
Volatility
ATR(14)8.89
ATR(20)%3.39%
ATR Inc
Range Today7.5
ADR(20)
ADR(20)%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS
Mansfield
10 Day High309.96
10 Day Low287.49
20 Day High309.96
20 Day Low251.81
52 Week High328.99
52 Week Low241.29
CS1 End
CR1 Start
Volume & EV
DER(3)
DER(5)
Volume1.13M
Volume Incr-38.82%
Vol(5)1.49M
Vol(50)1.91M