CADENCE DESIGN SYSTEMS INC. - 1H - Technical analysis published on 12/12/2024 (GMT)
- 124
- 0
- Timeframe : 1H
- - Analysis generated on
- Status : NEUTRAL
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Slightly bullish
Technical indicators
44%
11%
44%
My opinion
Neutral between 304.89 USD and 311.90 USD
My targets
-
My analysis
The neutral short-term trend shows a weakening of the basic, slightly bullish trend on CADENCE DESIGN SYSTEMS INC.. It is difficult to advise a trading direction under these conditions. The first resistance is located at 311.90 USD. The first support is located at 304.89 USD. We can stay away while waiting for a more pronounced price movement on this instrument. A new analysis could then be produced that would give clearer signals.
In the very short term, despite the neutral opinion of this analysis, technical indicators are bullish and could soon allow change to a bullish sentiment.
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Additional analysis
Quotes
CADENCE DESIGN SYSTEMS INC. rating 308.60 USD. On the day, this instrument lost -0.06% and was traded between 306.55 USD and 310.29 USD over the period. The price is currently at +0.67% from its lowest and -0.54% from its highest.306.55
310.29
308.60
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by CADENCE DESIGN SYSTEMS INC.:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CADENCE DESIGN SYSTEMS INC. chart shows a slightly bullish trend. 53.57% of the signals given by moving averages are bullish. As the signals currently given by short-term moving averages are rather neutral, the overall trend could quickly return to neutral as well. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, only 8 technical indicators out of 18 analysed are currently bullish. The Central Indicators scanner found this result concerning these indicators:
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Black evening star
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 287.49 | 298.44 | 304.89 | 308.60 | 311.90 | 318.04 | 326.50 |
| Change (%) | -6.84% | -3.29% | -1.20% | - | +1.07% | +3.06% | +5.80% |
| Change | -21.11 | -10.16 | -3.71 | - | +3.30 | +9.44 | +17.90 |
| Level | Intermediate | Intermediate | Major | - | Major | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 300.67 | 303.22 | 306.00 | 308.55 | 311.33 | 313.88 | 316.66 |
| Camarilla | 307.31 | 307.80 | 308.29 | 308.78 | 309.27 | 309.76 | 310.25 |
| Woodie | 300.79 | 303.28 | 306.12 | 308.61 | 311.45 | 313.94 | 316.78 |
| Fibonacci | 303.22 | 305.26 | 306.51 | 308.55 | 310.59 | 311.84 | 313.88 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 274.49 | 288.56 | 298.04 | 312.11 | 321.59 | 335.66 | 345.14 |
| Camarilla | 301.03 | 303.19 | 305.35 | 307.51 | 309.67 | 311.83 | 313.99 |
| Woodie | 272.19 | 287.41 | 295.74 | 310.96 | 319.29 | 334.51 | 342.84 |
| Fibonacci | 288.56 | 297.56 | 303.12 | 312.11 | 321.11 | 326.67 | 335.66 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 241.75 | 258.58 | 282.70 | 299.53 | 323.65 | 340.48 | 364.60 |
| Camarilla | 295.55 | 299.30 | 303.06 | 306.81 | 310.56 | 314.32 | 318.07 |
| Woodie | 245.39 | 260.40 | 286.34 | 301.35 | 327.29 | 342.30 | 368.24 |
| Fibonacci | 258.58 | 274.23 | 283.89 | 299.53 | 315.18 | 324.84 | 340.48 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 51.64 | |
| MACD (12,26,9): | 0.1600 | |
| Directional Movement: | 4.12 | |
| AROON (14): | 42.86 | |
| DEMA (21): | 308.17 | |
| Parabolic SAR (0,02-0,02-0,2): | 305.29 | |
| Elder Ray (13): | 0.63 | |
| Super Trend (3,10): | 301.62 | |
| Zig ZAG (10): | 308.86 | |
| VORTEX (21): | 0.9400 | |
| Stochastique (14,3,5): | 79.74 | |
| TEMA (21): | 308.98 | |
| Williams %R (14): | -21.23 | |
| Chande Momentum Oscillator (20): | -0.82 | |
| Repulse (5,40,3): | -0.0200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 3.25 |
| MA7: | 309.40 | |
| MA20: | 306.63 | |
| MA50: | 288.24 | |
| MA100: | 277.46 | |
| MAexp7: | 308.66 | |
| MAexp20: | 308.24 | |
| MAexp50: | 308.60 | |
| MAexp100: | 306.89 | |
| Price / MA7: | -0.26% | |
| Price / MA20: | +0.64% | |
| Price / MA50: | +7.06% | |
| Price / MA100: | +11.22% | |
| Price / MAexp7: | -0.02% | |
| Price / MAexp20: | +0.12% | |
| Price / MAexp50: | -0% | |
| Price / MAexp100: | +0.56% |
Quotes :
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15 min delayed data
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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:
- Cadence and Rapidus Collaborate on Leading-Edge 2nm Semiconductor Solutions for AI and HPC Applications
- Bridging Gaps with the Cadence Racial Equity Fund
- AST SpaceMobile and Cadence Collaborate to Advance the World’s First and Only Planned Space-Based Global Cellular Broadband Network
- Cadence’s Anirudh Devgan to Present at Nasdaq Investor Conference
- Redefining Hearing Aids with Cadence DSPs
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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