CADENCE DESIGN SYS INC (CDNS) Stock Technical Analysis
NASDAQ:CDNS - Nasdaq - US1273871087 - Common Stock - Currency: USD
We assign a technical rating of 8 out of 10 to CDNS. 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 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 295.33 - 330.09 range, which is quite wide. It is currently trading near the high of this range.
CDNS has an average volume of 1832810 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
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. However, this overall performance is mostly based on the strong move around 7 months ago.
CDNS is an average performer in the Software industry, it outperforms 64% of 282 stocks in the same industry.
CDNS has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 326.82. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 324.54, a Stop Loss order could be placed below this zone.
More info and screens
281.65
330.09
We found 4 important support areas.
- Support @324.54 from a horizontal line in the daily time frame.
- A support zone ranging from 316.02 to 319.22. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 305.45 to 309.25. 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.
We found 1 important resistance area.
- A resistance zone ranging from 326.82 to 326.82. 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 | 77.37 | POSITIVE | CDNS has a high relative strength, it outperformed 77.37% 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) | 63.72 | NEUTRAL | The RSI value for CDNS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests CDNS has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 61.02 | NEUTRAL | The Stochastics value for CDNS is a neutral value. |
| Average True Range in percent/ATR (20) | 2.33 | MEDIUM VOLATILITY | The ATR as a percentage value for CDNS suggests some volalility. |
| Average Directional Index/ADX (14) | 25.14 | 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 |
|---|---|---|---|
| 326.83 | 324.53 | 2.30 (0.70%) | 25.00% |
| An entry @326.83. This is a Buy Stop order right above the resistance zone. | An exit @324.53. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 2.30 points, which is 0.70%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.18%. |
- The distance between exit and entry is rather small compared to the average daily movement of CDNS. Please evaluate whether better entry and exit points can be found.
- 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.
326.46
+6.86 (+2.15%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg2.15%
1 Week3.78%
2 Weeks1.1%
1 Month9.99%
3 Month12.72%
6 Month1.87%
12 Month26.15%
2 Year39.51%
3 Year75.44%
5 Year198.82%
10 Year1456.8%
15 Year4590.52%
Volatility
ATR(14)7.82
ATR(20)%2.33%
ATR Inc10.63%
Range Today8.03
ADR(20)7
ADR(20)%2.14%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS77.37
Mansfield0.45
10 Day High326.52
10 Day Low311.08
20 Day High330.09
20 Day Low295.33
52 Week High330.09
52 Week Low221.56
CS1 End324.54
CR1 Start326.82
Volume & EV
DER(3)1.63%
DER(5)1.6%
Volume1.52M
Volume Incr-24.19%
Vol(5)1.29M
Vol(50)1.83M