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Advanced TA SearchArchive
- 9/13/2024 -
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Cadence Design Systems (CDNS) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the Cadence Design Systems (CDNS). During the week, the CDNS gained 21.20 points, or 8.56%, and closed at 268.72 on Friday, September 13, 2024. Weekly volume was 17% above average.
 Long-term trend: [See CDNS long-term trend chart]
A long-term downtrend had started on June 20, 2024 at 328.99 and reached 241.29 on August 5, 2024. CDNS lost 87.70 points, or 26.66%, in 6 weeks. The price is now at the 31.28% retracement level.
 Medium-term trend: [See CDNS medium-term trend chart]
A medium-term downtrend had started on August 22, 2024 at 287.47 and reached 245.45 on September 6, 2024. CDNS lost 42.02 points, or 14.62%, in 2 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (232.74) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See CDNS weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since July 12, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See CDNS short-term trend chart]
A short-term uptrend had started on September 6, 2024 at 245.45 and reached 272.28 on September 12, 2024. CDNS gained -26.83 points, or -10.93%, in 6 days. The price is now at the 13.27% retracement level.
Daily Technical Indicators: [See CDNS daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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