CDNS Technical Analysis - CADENCE DESIGN SYS INC

Technical Rating and Analysis

Taking everything into account, CDNS scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, CDNS has proven to be a steady performer, scoring decent points in every aspect analyzed.

The long and short term trends are both positive. This is looking good!

When comparing the yearly performance of all stocks, we notice that CDNS is one of the better performing stocks in the market, outperforming 84% of all stocks.

CDNS is one of the better performing stocks in the Software industry, it outperforms 72% of 279 stocks in the same industry.

CDNS is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.

In the last month CDNS has a been trading in the 326.35 - 374.30 range, which is quite wide. It is currently trading near the high of this range.

CDNS has an average volume of 1826360 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

More info and screens

Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

Show peers with best TA rating

Weekly and Daily overview Charts

CADENCE DESIGN SYS INC / CDNS Weekly stock chart

CADENCE DESIGN SYS INC / CDNS Daily stock chart

Setup Rating and Analysis

Although CDNS has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

More info and screens

ChartMill Technical Ratings

Pocket Pivots

Bull Flags

Show peers with best setup rating

Support and Resistance Analysis

335.13

377.11

We found 2 important support areas.

Support @371.03 from a horizontal line in the daily time frame.
A support zone ranging from 338.52 to 346.73. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

When analyzing the resistance we notice one important area.

A resistance zone ranging from 373.38 to 373.38. This zone is formed by a combination of multiple trend lines in multiple time frames.

More info

What is Support and Resistance

Support and Resistance indicators

Support and Resistance Screener and Trading Strategies

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	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	84.96	POSITIVE	CDNS has a high relative strength, it outperformed 84.96% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of CDNS is above the rising 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)	62.22	NEUTRAL	The RSI value for CDNS is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	2.03	POSITIVE	The MACD value suggests CDNS has a positive trend.
Stochastics (14,3)	97.71	OVERBOUGHT	The high Stochastics value suggests CDNS may be overbought.
Average True Range in percent/ATR (20)	2.76	MEDIUM VOLATILITY	The ATR as a percentage value for CDNS suggests some volalility.
Average Directional Index/ADX (14)	19.67	NEGATIVE	The low ADX value for CDNS suggests a weak or negative trend.