CADENCE DESIGN SYS INC (CDNS) Stock Technical Analysis
NASDAQ:CDNS - Nasdaq - US1273871087 - Common Stock - Currency: USD
Overall CDNS gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, CDNS is only an average performer.
The long and short term trends are both positive. This is looking good!
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 2019700 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When compared to the yearly performance of all other stocks, CDNS outperforms 64% of them, which is more or less in line with the market.
CDNS is part of the Software industry. There are 282 other stocks in this industry, CDNS did better than 55% of them.
In the last month CDNS has a been trading in the 289.12 - 315.90 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
232.42
329.78
4 important support areas can be observed.
- Support @306.47 from a horizontal line in the daily time frame.
- A support zone ranging from 296.06 to 300.86. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 284.49 to 287.06. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @234.77 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 | 64 | NEUTRAL | CDNS is not amongst the best or worst performers 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) | 60.35 | NEUTRAL | The RSI value for CDNS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.88 | POSITIVE | The MACD value suggests CDNS has a positive trend. |
| Stochastics (14,3) | 68.35 | NEUTRAL | The Stochastics value for CDNS is a neutral value. |
| Average True Range in percent/ATR (20) | 2.08 | MEDIUM VOLATILITY | The ATR as a percentage value for CDNS suggests some volalility. |
| Average Directional Index/ADX (14) | 16.13 | NEGATIVE | The low ADX value for CDNS suggests a weak or negative 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)
309.46
+1.31 (+0.43%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg0.43%
1 Week4.27%
2 Weeks2.88%
1 Month5.79%
3 Month32.88%
6 Month1.84%
12 Month-3.63%
2 Year32.24%
3 Year66.3%
5 Year183.26%
10 Year1375.73%
15 Year4346.26%
Volatility
ATR(14)6.25
ATR(20)%2.08%
ATR Inc-18.45%
Range Today6.26
ADR(20)6.02
ADR(20)%1.94%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS64
Mansfield0.18
10 Day High315.9
10 Day Low289.69
20 Day High315.9
20 Day Low289.12
52 Week High326.19
52 Week Low221.56
CS1 End298.9
CR1 Start306.47
Volume & EV
DER(3)1.7%
DER(5)2.3%
Volume1.33M
Volume Incr-15.67%
Vol(5)1.86M
Vol(50)2.02M