SYNOPSYS INC (SNPS) Stock Technical Analysis
NASDAQ:SNPS • US8716071076
Taking everything into account, SNPS scores 0 out of 10 in our technical rating. SNPS scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
- 70% of all other stocks performed better in the past year than SNPS.
- 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 currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.
- SNPS is one of the better performing stocks in the Software industry, it outperforms 81% of 276 stocks in the same industry.
- SNPS has an average volume of 2140930 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The technical rating of SNPS is bad and it also does not present a quality setup 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
377.08
We found 3 important support areas.
- Support @413.45 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.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 437.10 to 438.91. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 503.76 to 510.84. 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 | 30.84 | 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) | 41.29 | NEUTRAL | The RSI value for SNPS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -4 | NEGATIVE | The MACD value suggests SNPS has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 24.68 | NEUTRAL | The Stochastics value for SNPS is a neutral value. |
| Average True Range in percent/ATR (20) | 4.62 | MEDIUM VOLATILITY | The ATR as a percentage value for SNPS suggests some volalility. |
| Average Directional Index/ADX (14) | 32.38 | POSITIVE | The high ADX value value for SNPS suggests a strong trend. |
437.09
+13.74 (+3.25%)
SYNOPSYS INC / SNPS FAQ
What is the ChartMill technical rating of SYNOPSYS INC (SNPS) stock?
ChartMill assigns a technical rating of 0 / 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 41.2873. 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 -3.99902, 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.