CADENCE DESIGN SYS INC (CDNS) Stock Technical Analysis
NASDAQ:CDNS - Nasdaq - US1273871087 - Common Stock - Currency: USD
Taking everything into account, CDNS scores 7 out of 10 in our technical rating. Although CDNS is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Both the short term and long term trends are positive. This is a very positive sign.
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 2245110 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, CDNS did better than 73% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
CDNS is part of the Software industry. There are 284 other stocks in this industry, CDNS did better than 58% of them.
In the last month CDNS has a been trading in the 276.61 - 323.39 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although CDNS has an excellent technical rating, it does not present a decent entry opportunity 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
231.99
329.78
We found 2 important support areas.
- A support zone ranging from 284.49 to 298.09. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @234.33 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 321.57 to 326.51. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | 73.76 | POSITIVE | CDNS has a high relative strength, it outperformed 73.76% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of CDNS is above a declining 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) | 56.73 | NEUTRAL | The RSI value for CDNS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.95 | NEGATIVE | The MACD value suggests CDNS has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 60.37 | NEUTRAL | The Stochastics value for CDNS is a neutral value. |
| 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) | 23.85 | NEUTRAL | The ADX value for CDNS suggests a possible start of a new 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)
307.2
+1.51 (+0.49%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg0.49%
1 Week4.35%
2 Weeks6.44%
1 Month-3.6%
3 Month24.16%
6 Month0.15%
12 Month-1.57%
2 Year30.99%
3 Year104.76%
5 Year220.13%
10 Year1462.56%
15 Year5205.7%
Volatility
ATR(14)9.88
ATR(20)%2.76%
ATR Inc-36.17%
Range Today6.94
ADR(20)8.11
ADR(20)%2.64%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS73.76
Mansfield0.28
10 Day High310.95
10 Day Low276.61
20 Day High323.39
20 Day Low276.61
52 Week High328.99
52 Week Low221.56
CS1 End298.09
CR1 Start321.57
Volume & EV
DER(3)-1.01%
DER(5)0.04%
Volume1.26M
Volume Incr-20.49%
Vol(5)1.73M
Vol(50)2.25M