CADENCE DESIGN SYS INC (CDNS) Technical Analysis
NASDAQ:CDNS • US1273871087
Current stock price
CDNS Technical Rating and Analysis
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.
- Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
- In the last month CDNS has a been trading in the 268.80 - 302.01 range, which is quite wide. It is currently trading near the lows of this range.
- CDNS is part of the Software industry. There are 275 other stocks in this industry. CDNS outperforms 77% of them.
- CDNS has an average volume of 2671090 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the performance of all stocks over the past year, CDNS turns out to be only a medium performer in the overall market: it outperformed 48% of all stocks.
- 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.
CDNS Weekly and Daily overview Charts
CDNS Setup Rating and Analysis
Although the technical rating is bad, CDNS does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 271.76, a Stop Loss order could be placed below this zone.
More info and screens
CDNS Support and Resistance Analysis
265.81
We found 1 important support area.
- A support zone ranging from 268.49 to 271.76. This zone is formed by a combination of multiple trend lines in multiple time frames.
2 important resistance areas can be observed.
- A resistance zone ranging from 286.27 to 294.15. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 300.39 to 305.44. This zone is formed by a combination of multiple trend lines in multiple time frames.
CDNS Technical Indicator Signal Analysis
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 | DOWN | NEGATIVE | The long term trend for CDNS is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for CDNS is down. |
| ChartMill Relative Strength | 48.35 | 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) | DOWN | NEGATIVE | The current price of CDNS is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 42.98 | NEUTRAL | The RSI value for CDNS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.69 | NEGATIVE | The MACD value suggests CDNS has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 31.51 | NEUTRAL | The Stochastics value for CDNS is a neutral value. |
| Average True Range in percent/ATR (20) | 3.22 | MEDIUM VOLATILITY | The ATR as a percentage value for CDNS suggests some volalility. |
| Average Directional Index/ADX (14) | 15.94 | NEGATIVE | The low ADX value for CDNS suggests a weak or negative trend. |
CDNS Chart- and CandleStick Pattern Analysis
CDNS Technicals: Chart, Performance Metrics, Trend & Indicators
278.72
-1.47 (-0.52%)
CADENCE DESIGN SYS INC / CDNS TA 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 trend direction for CDNS stock?
The current trend direction for CADENCE DESIGN SYS INC (CDNS) is Bearish.
What is the RSI signal for CADENCE DESIGN SYS INC (CDNS) stock?
CADENCE DESIGN SYS INC (CDNS) has an RSI value of 42.9829. 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 -0.685575, indicating a bearish trend.
Can you provide the short term momentum for CADENCE DESIGN SYS INC?
The short term momentum for CADENCE DESIGN SYS INC (CDNS) is negative.