Taking everything into account, SNPS scores 7 out of 10 in our technical rating. In the last year, SNPS was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
- 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 79% of 278 stocks in the same industry.
- SNPS has an average volume of 1992760 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the performance of all stocks over the past year, SNPS turns out to be only a medium performer in the overall market: it outperformed 50% of all stocks.
- SNPS is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so SNPS is lagging the market.
- In the last month SNPS has a been trading in the 469.07 - 535.20 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
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 a support zone below the current price at 501.38, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
383.90
When analyzing the support we can see 3 important areas.
- A support zone ranging from 501.38 to 501.38. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @492.08 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.
3 important resistance areas can be observed.
- A resistance zone ranging from 512.18 to 512.33. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 524.58 to 533.43. 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 | 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 | 50.14 | NEUTRAL | SNPS is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of SNPS is below 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) | 53.99 | NEUTRAL | The RSI value for SNPS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -3.03 | NEGATIVE | The MACD value suggests SNPS has a negative trend. |
| Stochastics (14,3) | 41.32 | NEUTRAL | The Stochastics value for SNPS is a neutral value. |
| Average True Range in percent/ATR (20) | 3.12 | MEDIUM VOLATILITY | The ATR as a percentage value for SNPS suggests some volalility. |
| Average Directional Index/ADX (14) | 40.08 | POSITIVE | The high ADX value value for SNPS suggests a strong trend. |
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 |
|---|---|---|---|
| 512.34 | 501.37 | 10.97 (2.14%) | 25.00% |
| An entry @512.34. This is a Buy Stop order right above the resistance zone. | An exit @501.37. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 10.97 points, which is 2.14%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.54%. |
- The distance between exit and entry is rather small compared to the average daily movement of SNPS. 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.
503.01
+1.62 (+0.32%)
SYNOPSYS INC / SNPS FAQ
What is the ChartMill technical rating of SYNOPSYS INC (SNPS) stock?
ChartMill assigns a technical rating of 7 / 10 to SNPS.
What is the trend direction for SNPS stock?
The current trend direction for SYNOPSYS INC (SNPS) is Bullish.
What is the RSI signal for SYNOPSYS INC (SNPS) stock?
SYNOPSYS INC (SNPS) has an RSI value of 53.9861. 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 -3.02995, indicating a bearish trend.
What is the buy/sell signal for SNPS stock?
The buy/sell signal for SYNOPSYS INC (SNPS) is buy as both the short term and long term trends are positive.