|
|
|
|
Archive
- 4/19/2024 -
Sign In to see current Signals. |
Cadence Design Systems (CDNS) Technical Analysis
|
 |
| Summary:
| | Weekly :  | | Daily :
Move cursor over the icon to see details.
| | It was the negative week for the Cadence Design Systems (CDNS). During the week, the CDNS dropped -25.60 points, or -8.37%, and closed at 280.25 on Friday, April 19, 2024. Weekly volume was 15% above average.
 Long-term trend: [See CDNS long-term trend chart]
A long-term uptrend had started on November 4, 2022 at 138.76 and reached 327.36 on March 21, 2024. CDNS gained -188.60 points, or -135.92%, in 71 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (279.57) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.
 Medium-term trend: [See CDNS medium-term trend chart]
A medium-term uptrend had started on August 18, 2023 at 217.78 and reached 327.36 on March 21, 2024. CDNS gained -109.58 points, or -50.32%, in 30 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (277.56) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
 Weekly Technical Indicators: [See CDNS weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
 Short-term trend: [See CDNS short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 327.36 and reached 279.60 on April 19, 2024. CDNS lost 47.76 points, or 14.59%, in 29 days. The chart has formed a Falling Wedge chart pattern. The downtrend support line (296.07) is broken. Usually a broken support is considered to be a long-term bearish signal, although a short-term pull back is possible. 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 support in a short-term trend.
 Daily Technical Indicators: [See CDNS daily technical indicators chart]
Daily Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily Lane's Stochastic. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since March 26, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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.
| |
|
|
|
|
| Daily Oscillators |
|
|
| Weekly Oscillators |
|
|
| Trading
Signals |
|
|
|
| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Information Technology |
5 |
| Industry |
Application Software |
35 |
|
| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
303.63 |
| High Date |
04/17/2024 |
| Low |
279.60 |
| Low Date |
04/19/2024 |
|
| Weekly Trend |
|
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| Status |
Broken Support |
| Resistance |
303.86 |
| Support |
296.07 |
| High |
327.36 |
| High Date |
03/21/2024 |
| Low |
279.60 |
| Low Date |
04/19/2024 |
|
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Test Support |
| Resistance |
340.57 |
| Support |
277.56 |
| Low |
217.78 |
| Low Date |
08/18/2023 |
| High |
327.36 |
| High Date |
03/21/2024 |
|
| Quarterly Trend |
|
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Channel |
| Status |
Test Support |
| Resistance |
313.35 |
| Support |
279.57 |
| Low |
138.76 |
| Low Date |
11/04/2022 |
| High |
327.36 |
| High Date |
03/21/2024 |
|
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
|
| Resistance |
|
| Support |
|
| Low |
132.32 |
| Low Date |
05/12/2022 |
| High |
327.36 |
| High Date |
03/21/2024 |
|
|