CADENCE DESIGN SYS INC (CDNS)

US1273871087 - Common Stock

301.47  +1.6 (+0.53%)

After market: 301.47 0 (0%)

Technical Rating and Analysis

6

We assign a technical rating of 6 out of 10 to CDNS. CDNS has been an average performer in the overall market. We also notice some doubts in the very recent evolution, but in the medium term things are still fine.

In the last month CDNS has a been trading in the 295.98 - 326.19 range, which is quite wide. It is currently trading near the lows of this range.
The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
CDNS has an average volume of 1995890 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that CDNS is one of the better performing stocks in the market, outperforming 71% of all stocks. However, this relatively good performance is mostly due to a recent big move.
CDNS is an average performer in the Software industry, it outperforms 50% of 279 stocks in the same industry.
CDNS is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so CDNS is lagging the market slightly.
Weekly and Daily overview Charts
CDNS Weekly chart
CDNS Daily chart
Setup Rating and Analysis

8

CDNS has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 299.86, a Stop Loss order could be placed below this zone.

Support and Resistance Analysis

244.37

329.78

5 important support areas can be observed.

  • Support @299.86 from a horizontal line in the daily time frame.
  • Support @268.48 from a trend line in the weekly time frame.
  • A support zone ranging from 257.29 to 257.60. This zone is formed by a combination of multiple trend lines 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 2 important areas.

  • A resistance zone ranging from 306.38 to 308.45. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
  • A resistance zone ranging from 322.74 to 326.51. This zone is formed by a combination of multiple trend lines in multiple time frames.
Statistics, Performance, Trends, Indicators, Chart- and CandleStick Patterns
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS71.62
Mansfield-0.53
10 Day High317.25
10 Day Low295.98
20 Day High326.19
20 Day Low295.98
52 Week High328.99
52 Week Low241.29
Performance
1 Week-1.72%
2 Weeks-1.96%
1 Month-1.64%
3 Month10.12%
6 Month-5.31%
12 Month9.3%
2 Year87.67%
3 Year61.78%
5 Year334.65%
10 Year1489.19%
15 Year4932.89%
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)-2.13
RSI(14)48.69
LBB295.57
UBB320.56
Example Setup

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.

ENTRYEXITDISTANCECAPITAL
308.46299.858.61 (2.79%)25.00%
An entry @308.46. This is a Buy Stop order right above the resistance zone.An exit @299.85. This is a Stop Loss order right below the support zone.The worst case loss on the trade is limited to 8.61 points, which is 2.79%.For a 0.70% 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.
CDNS Daily chart

CADENCE DESIGN SYS INC

NASDAQ:CDNS (12/20/2024, 8:00:48 PM)

After market: 301.47 0 (0%)

301.47

+1.6 (+0.53%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg0.53%
1 Week-1.72%
2 Weeks-1.96%
1 Month-1.64%
3 Month10.12%
6 Month-5.31%
12 Month9.3%
2 Year87.67%
3 Year61.78%
5 Year334.65%
10 Year1489.19%
15 Year4932.89%
Volatility
ATR(14)9.62
ATR(20)%2.91%
ATR Inc-5.85%
Range Today10.52
ADR(20)8.19
ADR(20)%2.72%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS71.62
Mansfield-0.53
10 Day High317.25
10 Day Low295.98
20 Day High326.19
20 Day Low295.98
52 Week High328.99
52 Week Low241.29
CS1 End299.86
CR1 Start306.38
Volume & EV
DER(3)-1.89%
DER(5)-1.49%
Volume3.04M
Volume Incr27.32%
Vol(5)2.00M
Vol(50)2.00M