CADENCE DESIGN SYSTEMS INC.
-
USD
(-)
- 15 min delayed data - NASDAQ Stocks
| Open: | - |
| Change: | - |
| Volume: | - |
| Low: | - |
| High: | - |
| High / Low range: | - |
| Type: | Stocks |
| Ticker: | CDNS |
| ISIN: |
CADENCE DESIGN SYSTEMS INC. - Daily - Technical analysis published on 12/26/2023 (GMT)
- 360
- 0
- 12/26/2023 - 15:25
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- Timeframe : Daily
- - Analysis generated on 12/26/2023 - 15:25
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
11%
11%
My opinion
Bullish above 252.98 USD
My targets
288.28 USD (+4.54%)
303.30 USD (+9.99%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on CADENCE DESIGN SYSTEMS INC. as long as the price remains well above 252.98 USD. The buyers' bullish objective is set at 288.28 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 303.30 USD. If there is any crossing, the next objective would be the resistance located at 327.26 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.2
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CADENCE DESIGN SYSTEMS INC. price is 275.76 USD. On the day, this instrument lost -0.02% and was traded between 275.76 USD and 279.18 USD over the period. The price is currently at 0% from its lowest and -1.23% from its highest.275.76
279.18
275.76
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this CADENCE DESIGN SYSTEMS INC. chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 14 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near resistance of channel
Type : Bearish
Timeframe : Daily
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 203.58 | 220.31 | 252.98 | 275.76 | 276.57 |
| Change (%) | -26.17% | -20.11% | -8.26% | - | +0.29% |
| Change | -72.18 | -55.45 | -22.78 | - | +0.81 |
| Level | Minor | Intermediate | Intermediate | - | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 263.26 | 266.13 | 270.98 | 273.85 | 278.70 | 281.57 | 286.42 |
| Camarilla | 273.70 | 274.41 | 275.11 | 275.82 | 276.53 | 277.24 | 277.94 |
| Woodie | 264.24 | 266.63 | 271.96 | 274.35 | 279.68 | 282.07 | 287.40 |
| Fibonacci | 266.13 | 269.08 | 270.90 | 273.85 | 276.80 | 278.62 | 281.57 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 261.86 | 265.43 | 270.63 | 274.20 | 279.40 | 282.97 | 288.17 |
| Camarilla | 273.41 | 274.21 | 275.02 | 275.82 | 276.62 | 277.43 | 278.23 |
| Woodie | 262.67 | 265.84 | 271.44 | 274.61 | 280.21 | 283.38 | 288.98 |
| Fibonacci | 265.43 | 268.78 | 270.85 | 274.20 | 277.55 | 279.62 | 282.97 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 210.32 | 225.34 | 249.30 | 264.32 | 288.28 | 303.30 | 327.26 |
| Camarilla | 262.55 | 266.12 | 269.70 | 273.27 | 276.84 | 280.42 | 283.99 |
| Woodie | 214.80 | 227.58 | 253.78 | 266.56 | 292.76 | 305.54 | 331.74 |
| Fibonacci | 225.34 | 240.23 | 249.43 | 264.32 | 279.21 | 288.41 | 303.30 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 61.07 | |
| MACD (12,26,9): | 4.0000 | |
| Directional Movement: | 9.14 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 275.74 | |
| Parabolic SAR (0,02-0,02-0,2): | 263.12 | |
| Elder Ray (13): | 5.34 | |
| Super Trend (3,10): | 260.66 | |
| Zig ZAG (10): | 275.82 | |
| VORTEX (21): | 1.0100 | |
| Stochastique (14,3,5): | 87.10 | |
| TEMA (21): | 275.22 | |
| Williams %R (14): | -14.93 | |
| Chande Momentum Oscillator (20): | 16.39 | |
| Repulse (5,40,3): | -0.2400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.2100 | |
| Courbe Coppock: | 6.10 |
| MA7: | 273.90 | |
| MA20: | 269.97 | |
| MA50: | 259.64 | |
| MA100: | 247.34 | |
| MAexp7: | 273.94 | |
| MAexp20: | 270.23 | |
| MAexp50: | 261.69 | |
| MAexp100: | 250.76 | |
| Price / MA7: | +0.68% | |
| Price / MA20: | +2.14% | |
| Price / MA50: | +6.21% | |
| Price / MA100: | +11.49% | |
| Price / MAexp7: | +0.66% | |
| Price / MAexp20: | +2.05% | |
| Price / MAexp50: | +5.38% | |
| Price / MAexp100: | +9.97% |
Quotes :
12/26/2023 - 15:07
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15 min delayed data
-
NASDAQ Stocks
News
Don't forget to follow the news on CADENCE DESIGN SYSTEMS INC.. At the time of publication of this analysis, the latest news was as follows:
- 12/18/2023 - 14:45 DEI at Cadence: Cadence Women Conference 2023 Recap Around the Globe
- 12/14/2023 - 14:45 Cadence Recognized With HRC Equality 100 Award as an LGBTQ+ Workplace Leader
- 12/01/2023 - 09:15 Cadence Cork Partners With Age Action To Promote Digital Literacy
- 11/29/2023 - 15:15 DEI@Cadence: Spotlighting Cadence Veterans and Their Transitions to Tech
- 11/22/2023 - 14:31 Thinking about buying stock in Vista Energy, Cadence Design Systems, Oppfi, Captivision, or Calidi Biotherapeutics?
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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