CADENCE DESIGN SYS INC (CDNS) Stock Technical Analysis
USA - NASDAQ:CDNS - US1273871087 - Common Stock
We assign a technical rating of 1 out of 10 to CDNS. CDNS has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
CDNS has a bad technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period.
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312.37
When analyzing the support we notice one important area.
- A support zone ranging from 315.53 to 315.98. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 339.98 to 345.11. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 351.41 to 353.36. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @371.03 from a horizontal line in the daily time frame.
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 | NEUTRAL | NEUTRAL | The long term trend for CDNS is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for CDNS is down. |
| ChartMill Relative Strength | 40.46 | NEUTRAL | CDNS is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of CDNS is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of CDNS is below a declining 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) | 35.39 | NEUTRAL | The RSI value for CDNS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -1.71 | NEGATIVE | The MACD value suggests CDNS has a negative trend. |
| Stochastics (14,3) | 4.7 | OVERSOLD | The low Stochastics value suggests CDNS may be oversold. |
| Average True Range in percent/ATR (20) | 3.12 | MEDIUM VOLATILITY | The ATR as a percentage value for CDNS suggests some volalility. |
| Average Directional Index/ADX (14) | 25.08 | POSITIVE | The high ADX value value for CDNS suggests a strong trend. |
315.99
+0.45 (+0.14%)
CADENCE DESIGN SYS INC / CDNS FAQ
What is the ChartMill technical rating of CADENCE DESIGN SYS INC (CDNS) stock?
ChartMill assigns a technical rating of 1 / 10 to CDNS.
What is the current trend direction of CADENCE DESIGN SYS INC (CDNS) stock?
The current trend direction for CADENCE DESIGN SYS INC (CDNS) is Bearish.
What is the RSI signal for CDNS stock?
CADENCE DESIGN SYS INC (CDNS) has an RSI value of 35.3864. This indicates that the stock is currently neutral.
What is the MACD signal for CADENCE DESIGN SYS INC (CDNS) stock?
The MACD indicator for CADENCE DESIGN SYS INC (CDNS) has a value of -1.71479, indicating a bearish trend.
What is the short term momentum for CDNS stock?
The short term momentum for CADENCE DESIGN SYS INC (CDNS) is negative.