To The Moon

$Cadence Design(CDNS)$ 

Cadence Design Systems was founded in 1988 through a merger.

The mission of the new company was to offer software for computer platforms.

Cadence Design Systems formed a subsidiary in Japan which helped it become the world’s leading supplier of integrated circuits very quickly.

The company continued to innovate and expanded into systems design software through acquisitions and research and development. This allowed Cadence Design Systems to provide its customers with a full suit of support and consulting services, further cementing its dominance in the industry.

Today, Cadence Design Systems provides solutions to these 4 huge industries:

CDNS Signals & Forecast

The Cadence Design Systems stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $190.13 and $176.32. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, January 05, 2023, and so far it has risen 28.99%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Cadence Design Systems stock

Cadence Design Systems finds support from accumulated volume at $199.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

$199.09 $202.26

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.23 between high and low, or 2.13%. For the last week, the stock has had daily average volatility of 2.31%.

Our recommended stop-loss: $195.95 (-3.12%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 28 days ago.)

Trading Expectations (CDNS) For The Upcoming Trading Day Of Thursday 16th

For the upcoming trading day on Thursday, 16th we expect Cadence Design Systems to open at $201.32, and during the day (based on 14 day Average True Range), to move between $197.18 and $207.34, which gives a possible trading interval of +/-$5.08 (+/-2.51%) up or down from last closing price. If Cadence Design Systems takes out the full calculated possible swing range there will be an estimated 5.02% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $3.17 (1.57%) our system find the risk reward attractive.

Insiders are very negative selling more shares than they are buying in Cadence Design Systems

In the last 100 trades there were 224.79 thousand shares bought and 780.58 thousand shares sold. The last trade was made 6 days ago by Sangiovanni Vincentelli Alberto who sold 10 thousand shares. In general the insiders are selling more stocks than they buy. There can be a variety of reasons for this, but in general it can be considered as a positivesignal.

Is Cadence Design Systems stock A Buy?

Cadence Design Systems holds several positive signals. At the current level, it should be considered as a Buy candidate (Buy and accumulate) in this position whilst awaiting further development.