SYNOPSYS INC (SNPS) Stock Technical Analysis
NASDAQ:SNPS • US8716071076
Overall SNPS gets a technical rating of 1 out of 10. SNPS has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
- Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
- SNPS is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
- SNPS is one of the better performing stocks in the Software industry, it outperforms 82% of 276 stocks in the same industry.
- SNPS has an average volume of 2145320 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, SNPS outperforms 45% of them, which is more or less in line with the market.
- In the last month SNPS has a been trading in the 405.71 - 515.80 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although the technical rating is bad, SNPS does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 439.95. Right above this resistance zone may be a good entry point.
More info and screens
377.08
We found 3 important support areas.
- Support @415.46 from a trend line in the daily time frame.
- A support zone ranging from 387.78 to 388.13. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @380.89 from a horizontal line in the daily time frame.
3 important resistance areas can be observed.
- A resistance zone ranging from 439.95 to 442.45. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 499.48 to 506.91. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @621.30 from a horizontal line in the weekly 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 | DOWN | NEGATIVE | The long term trend for SNPS is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for SNPS is down. |
| ChartMill Relative Strength | 45.6 | NEUTRAL | SNPS is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of SNPS is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of SNPS is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of SNPS is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 44.38 | NEUTRAL | The RSI value for SNPS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.42 | POSITIVE | The MACD value suggests SNPS has a positive trend. |
| Stochastics (14,3) | 46.66 | NEUTRAL | The Stochastics value for SNPS is a neutral value. |
| Average True Range in percent/ATR (20) | 4.48 | MEDIUM VOLATILITY | The ATR as a percentage value for SNPS suggests some volalility. |
| Average Directional Index/ADX (14) | 28.25 | POSITIVE | The high ADX value value for SNPS suggests a strong trend. |
439.94
-2.5 (-0.57%)
SYNOPSYS INC / SNPS FAQ
What is the ChartMill technical rating of SYNOPSYS INC (SNPS) stock?
ChartMill assigns a technical rating of 1 / 10 to SNPS.
What is the trend direction for SNPS stock?
The current trend direction for SYNOPSYS INC (SNPS) is Bearish.
What is the RSI signal for SYNOPSYS INC (SNPS) stock?
SYNOPSYS INC (SNPS) has an RSI value of 44.3826. This indicates that the stock is currently neutral.
What is the MACD signal for SYNOPSYS INC (SNPS) stock?
The MACD indicator for SYNOPSYS INC (SNPS) has a value of 0.422565, indicating a bearish trend.
What is the buy/sell signal for SNPS stock?
The buy/sell signal for SYNOPSYS INC (SNPS) is sell as both the short term and long term trends are negative.