SYNOPSYS INC (SNPS) Stock Technical Analysis
NASDAQ:SNPS - Nasdaq - US8716071076 - Common Stock - Currency: USD
Taking everything into account, SNPS scores 9 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, SNPS is showing a nice and steady performance.
Both the short term and long term trends are positive. This is a very positive sign.
SNPS is one of the better performing stocks in the Software industry, it outperforms 72% of 282 stocks in the same industry.
SNPS 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 SNPS is lagging the market slightly.
SNPS is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
Considerably lower volume is observed in the last couple of days, which is a good thing during a pullback.
SNPS has an average volume of 1909800 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 SNPS is one of the better performing stocks in the market, outperforming 83% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
SNPS has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price.
More info and screens
521.50
632.15
2 important support areas can be observed.
- A support zone ranging from 592.62 to 601.88. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @526.77 from a trend line in the daily time frame.
We found 1 important resistance area.
- Resistance @625.89 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 | UP | POSITIVE | The long term trend for SNPS is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for SNPS is up. |
| ChartMill Relative Strength | 83.03 | POSITIVE | SNPS has a high relative strength, it outperformed 83.03% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SNPS is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SNPS is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SNPS is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 63.37 | NEUTRAL | The RSI value for SNPS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.98 | NEGATIVE | The MACD value suggests SNPS has a negative trend. |
| Stochastics (14,3) | 74.27 | NEUTRAL | The Stochastics value for SNPS is a neutral value. |
| Average True Range in percent/ATR (20) | 3.46 | MEDIUM VOLATILITY | The ATR as a percentage value for SNPS suggests some volalility. |
| Average Directional Index/ADX (14) | 40.4 | POSITIVE | The high ADX value value for SNPS 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 |
|---|---|---|---|
| 625.90 | 592.61 | 33.29 (5.32%) | 18.80% |
| An entry @625.90. This is a Buy Stop order right above the resistance zone. | An exit @592.61. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 33.29 points, which is 5.32%. | When investing 18.80% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
625.88
-2.62 (-0.42%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg-0.42%
1 Week-3.02%
2 Weeks1.87%
1 Month13.6%
3 Month29.61%
6 Month19.03%
12 Month19.28%
2 Year36.39%
3 Year80.88%
5 Year182.82%
10 Year1233.65%
15 Year2637.88%
Volatility
ATR(14)20.44
ATR(20)%3.46%
ATR Inc-40.33%
Range Today14.34
ADR(20)20.18
ADR(20)%3.22%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS83.03
Mansfield1.46
10 Day High651.73
10 Day Low588.37
20 Day High651.73
20 Day Low542.49
52 Week High651.73
52 Week Low365.74
CS1 End601.88
CR1 Start625.89
Volume & EV
DER(3)2.97%
DER(5)1.11%
Volume1.02M
Volume Incr-55.56%
Vol(5)1.13M
Vol(50)1.91M