CADENCE DESIGN SYSTEMS INC. - Daily - Technical analysis published on 10/28/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bearish
Technical indicators
56%
6%
39%
My opinion
Bearish under 67.63 USD
My targets
61.70 USD (-6.22%)
57.25 USD (-12.98%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on CADENCE DESIGN SYSTEMS INC.. As long as you are under the resistance located at 67.63 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 61.70 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 57.25 USD as an objective. Crossing it would then enable sellers to target 47.26 USD. If the resistance 67.63 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
FORCE
0
10
0.5
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
CADENCE DESIGN SYSTEMS INC. rating 65.79 USD. On the day, this instrument gained +1.06% and was traded between 65.18 USD and 65.93 USD over the period. The price is currently at +0.94% from its lowest and -0.21% from its highest.65.18
65.93
65.79
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by CADENCE DESIGN SYSTEMS INC.:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this CADENCE DESIGN SYSTEMS INC. chart shows a bearish trend. The signals given by moving averages are 64.29% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 10 technical indicators on 18 studied are currently bullish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Near support of triangle
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 47.26 | 57.25 | 61.70 | 65.79 | 67.63 | 70.27 | 76.35 |
| Change (%) | -28.17% | -12.98% | -6.22% | - | +2.80% | +6.81% | +16.05% |
| Change | -18.53 | -8.54 | -4.09 | - | +1.84 | +4.48 | +10.56 |
| Level | Major | Minor | Major | - | Major | Major | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 63.65 | 64.05 | 64.58 | 64.98 | 65.51 | 65.91 | 66.44 |
| Camarilla | 64.84 | 64.93 | 65.02 | 65.10 | 65.19 | 65.27 | 65.36 |
| Woodie | 63.71 | 64.08 | 64.64 | 65.01 | 65.57 | 65.94 | 66.50 |
| Fibonacci | 64.05 | 64.41 | 64.63 | 64.98 | 65.34 | 65.56 | 65.91 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 53.42 | 57.91 | 61.51 | 66.00 | 69.60 | 74.09 | 77.69 |
| Camarilla | 62.88 | 63.62 | 64.36 | 65.10 | 65.84 | 66.58 | 67.33 |
| Woodie | 52.97 | 57.69 | 61.06 | 65.78 | 69.15 | 73.87 | 77.24 |
| Fibonacci | 57.91 | 61.00 | 62.91 | 66.00 | 69.09 | 71.00 | 74.09 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 56.49 | 60.35 | 63.22 | 67.08 | 69.94 | 73.80 | 76.67 |
| Camarilla | 64.23 | 64.85 | 65.46 | 66.08 | 66.70 | 67.31 | 67.93 |
| Woodie | 55.99 | 60.10 | 62.72 | 66.83 | 69.44 | 73.55 | 76.17 |
| Fibonacci | 60.35 | 62.92 | 64.51 | 67.08 | 69.64 | 71.23 | 73.80 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 49.93 | |
| MACD (12,26,9): | -0.4300 | |
| Directional Movement: | 12.31 | |
| AROON (14): | -7.14 | |
| DEMA (21): | 64.91 | |
| Parabolic SAR (0,02-0,02-0,2): | 69.87 | |
| Elder Ray (13): | 0.21 | |
| Super Trend (3,10): | 69.32 | |
| Zig ZAG (10): | 65.79 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 36.38 | |
| TEMA (21): | 65.15 | |
| Williams %R (14): | -57.73 | |
| Chande Momentum Oscillator (20): | 0.31 | |
| Repulse (5,40,3): | 0.3900 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1000 | |
| Courbe Coppock: | 0.01 |
| MA7: | 64.97 | |
| MA20: | 65.38 | |
| MA50: | 66.58 | |
| MA100: | 69.18 | |
| MAexp7: | 65.21 | |
| MAexp20: | 65.53 | |
| MAexp50: | 66.62 | |
| MAexp100: | 66.79 | |
| Price / MA7: | +1.26% | |
| Price / MA20: | +0.63% | |
| Price / MA50: | -1.19% | |
| Price / MA100: | -4.90% | |
| Price / MAexp7: | +0.89% | |
| Price / MAexp20: | +0.40% | |
| Price / MAexp50: | -1.25% | |
| Price / MAexp100: | -1.50% |
News
The last news published on CADENCE DESIGN SYSTEMS INC. at the time of the generation of this analysis was as follows:
- Cadence Announces First-to-Market NVMe 1.4 Verification IP for High-Performance Computing
- Cadence Reports Third Quarter 2019 Financial Results
- Cadence Custom/AMS Flow Certified for Samsung 5LPE Process Technology
- Cadence Automotive Reference Flow Certified by Samsung Foundry for Advanced-Node Design Creation
- Cadence 3D-IC Advanced Packaging Integration Flow Certified by Samsung Foundry for its 7LPP Process Technology
This member declared not having a position on this financial instrument or a related financial instrument.
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