CDNS Technical Analysis - CADENCE DESIGN SYS INC

Technical Rating and Analysis

Overall CDNS gets a technical rating of 3 out of 10. In the last year, CDNS was one of the better performers, although we are getting mixed signals now in both the short and medium term time frames.

CDNS is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.

When comparing the yearly performance of all stocks, we notice that CDNS is one of the better performing stocks in the market, outperforming 77% of all stocks.

CDNS is part of the Software industry. There are 285 other stocks in this industry. CDNS outperforms 71% of them.

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 1616350 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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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

CDNS has a poor technical rating and the quality of the setup is also not perfect 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

320.85

377.11

When analyzing the support we notice one important area.

A support zone ranging from 324.09 to 332.12. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

We found 1 important resistance area.

A resistance zone ranging from 371.03 to 373.38. This zone is formed by a combination of multiple trend lines in multiple time frames.

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What is Support and Resistance

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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	DOWN	NEGATIVE	The short term trend for CDNS is down.
ChartMill Relative Strength	77.1	POSITIVE	CDNS has a high relative strength, it outperformed 77.1% off all stocks 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)	44.19	NEUTRAL	The RSI value for CDNS is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-1.5	NEGATIVE	The MACD value suggests CDNS has a negative trend, although the MACD value is rising.
Stochastics (14,3)	31.56	NEUTRAL	The Stochastics value for CDNS is a neutral value.
Average True Range in percent/ATR (20)	2.64	MEDIUM VOLATILITY	The ATR as a percentage value for CDNS suggests some volalility.
Average Directional Index/ADX (14)	23.83	NEUTRAL	The ADX value for CDNS suggests a possible start of a new trend.