CADENCE DESIGN SYS INC (CDNS) Stock Technical Analysis
NASDAQ:CDNS - US1273871087 - Common Stock
354.29 USD
+7.41 (+2.14%)
354.29 USD
0 (0%)
Taking everything into account, CDNS scores 9 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, CDNS is showing a nice and steady performance.
The long and short term trends are both positive. This is looking good!
Looking at the yearly performance, CDNS did better than 84% of all other stocks.
CDNS is one of the better performing stocks in the Software industry, it outperforms 77% of 282 stocks in the same industry.
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.
CDNS has an average volume of 1731500 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
In the last month CDNS has a been trading in the 339.62 - 369.14 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
CDNS has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 351.79, a Stop Loss order could be placed below this zone.
More info and screens
336.08
357.83
We found 1 important support area.
- A support zone ranging from 339.47 to 351.79. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for CDNS is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CDNS is up. |
| ChartMill Relative Strength | 84.67 | POSITIVE | CDNS has a high relative strength, it outperformed 84.67% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of CDNS is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CDNS is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CDNS is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 58.45 | NEUTRAL | The RSI value for CDNS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -1.64 | NEGATIVE | The MACD value suggests CDNS has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 47.45 | NEUTRAL | The Stochastics value for CDNS is a neutral value. |
| Average True Range in percent/ATR (20) | 2.2 | MEDIUM VOLATILITY | The ATR as a percentage value for CDNS suggests some volalility. |
| Average Directional Index/ADX (14) | 29.7 | POSITIVE | The high ADX value value for CDNS suggests a strong trend. |
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)
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 |
|---|---|---|---|
| 356.92 | 339.61 | 17.31 (4.85%) | 20.62% |
| An entry @356.92. This is a Buy Stop order right above the 10 day high. | An exit @339.61. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 17.31 points, which is 4.85%. | For a 1.00% total portfolio risk, you can invest 20.62% of your capital in this trade. |
- 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.
354.29
+7.41 (+2.14%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg2.14%
1 Week1.93%
2 Weeks1.54%
1 Month-2.82%
3 Month23.42%
6 Month41.43%
12 Month31.74%
2 Year47.35%
3 Year103.88%
5 Year219.44%
10 Year1669.68%
15 Year5117.82%
Volatility
ATR(14)6.88
ATR(20)%2.2%
ATR Inc-12.06%
Range Today7.77
ADR(20)7.44
ADR(20)%2.1%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS84.67
Mansfield0.95
10 Day High356.91
10 Day Low339.62
20 Day High369.14
20 Day Low339.62
52 Week High376.45
52 Week Low221.56
CS1 End351.79
CR1 StartN/A
Volume & EV
DER(3)0.47%
DER(5)0.54%
Volume1.08M
Volume Incr-38.65%
Vol(5)1.21M
Vol(50)1.73M