CADENCE DESIGN SYS INC (CDNS) Stock Technical Analysis
NASDAQ:CDNS - Nasdaq - US1273871087 - Common Stock - Currency: USD
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!
Looking at the yearly performance, CDNS did better than 82% of all other stocks. We also observe that the gains produced by CDNS over the past year are nicely spread over this period.
CDNS is part of the Software industry. There are 282 other stocks in this industry. CDNS outperforms 74% 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 is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
CDNS has an average volume of 2020660 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Besides having an excellent technical rating, CDNS also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price.
More info and screens
303.41
357.87
3 important support areas can be observed.
- Support @332.41 from a trend line in the daily time frame.
- A support zone ranging from 314.57 to 320.43. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @306.47 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 | 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 | 82.34 | POSITIVE | CDNS has a high relative strength, it outperformed 82.34% 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) | 62.2 | NEUTRAL | The RSI value for CDNS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1.38 | POSITIVE | The MACD value suggests CDNS has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 71.65 | NEUTRAL | The Stochastics value for CDNS is a neutral value. |
| Average True Range in percent/ATR (20) | 2.8 | MEDIUM VOLATILITY | The ATR as a percentage value for CDNS suggests some volalility. |
| Average Directional Index/ADX (14) | 40.97 | 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 |
|---|---|---|---|
| 356.47 | 332.40 | 24.07 (6.75%) | 14.81% |
| An entry @356.47. This is a Buy Stop order right above the 10 day moving average. | An exit @332.40. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 24.07 points, which is 6.75%. | For a 1.00% total portfolio risk, you can invest 14.81% 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.
354.33
-5.83 (-1.62%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg-1.62%
1 Week-2.81%
2 Weeks9.15%
1 Month9.82%
3 Month15.88%
6 Month18.24%
12 Month31.17%
2 Year47.37%
3 Year103.91%
5 Year219.48%
10 Year1669.88%
15 Year5118.41%
Volatility
ATR(14)11.02
ATR(20)%2.8%
ATR Inc-1.56%
Range Today15.74
ADR(20)8.73
ADR(20)%2.46%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS82.34
Mansfield1.31
10 Day High376.45
10 Day Low324.5
20 Day High376.45
20 Day Low311.08
52 Week High376.45
52 Week Low221.56
CS1 End332.41
CR1 StartN/A
Volume & EV
DER(3)2.19%
DER(5)2.46%
Volume1.53M
Volume Incr-17.9%
Vol(5)1.64M
Vol(50)2.02M