Londinia Opportunities Analyses - 05/16/2024 (GMT) CADENCE DESIGN SYSTEMS INC. - 1H

- USD (-)

- 15 min delayed data - NASDAQ Stocks

Type:	Stocks
Ticker:	CDNS
ISIN:

Londinia

Oops, I was wrong about that analysis. My threshold for invalidation has been broken.

U.S. Stocks
Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

78%

17%

My opinion

Bullish above 290.30 USD

My targets

298.44 USD (+1.99%)

303.71 USD (+3.79%)

My analysis

The bullish trend is currently very strong on CADENCE DESIGN SYSTEMS INC.. As long as the price remains above the support at 290.30 USD, you could try to benefit from the boom. The first bullish objective is located at 298.44 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 303.71 USD as an objective. Crossing it would then enable buyers to target 311.83 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

8.4

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Additional analysis

Quotes

The CADENCE DESIGN SYSTEMS INC. rating is 292.62 USD. The price is lower by -0.16% since the last closing and was traded between 290.23 USD and 294.74 USD over the period. The price is currently at +0.82% from its lowest and -0.72% from its highest.

290.23

294.74

292.62

Here is a more detailed summary of the historical variations registered by CADENCE DESIGN SYSTEMS INC.:

The Central Records scanner for higher/lower results shows an item:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of CADENCE DESIGN SYSTEMS INC. in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

The probability of a further increase is high given the direction of the technical indicators.
The Central Indicators scanner specialised in technical indicators, has not detected anything further.

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:

Near horizontal support

Type : Bullish

Timeframe : 1 hour

Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these signals that could have an impact on the current short-term trend:

White hanging man / hammer

Type : Neutral

Timeframe : 1 hour

Bullish harami

Type : Bullish

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	274.92	282.11	290.30	292.62	298.44	303.71	311.83
Change (%)	-6.05%	-3.59%	-0.79%	-	+1.99%	+3.79%	+6.56%
Change	-17.70	-10.51	-2.32	-	+5.82	+11.09	+19.21
Level	Major	Intermediate	Intermediate	-	Intermediate	Intermediate	Intermediate

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	279.21	282.51	287.81	291.11	296.41	299.71	305.01
Camarilla	290.74	291.52	292.31	293.10	293.89	294.68	295.47
Woodie	280.20	283.01	288.80	291.61	297.40	300.21	306.00
Fibonacci	282.51	285.80	287.83	291.11	294.40	296.43	299.71

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	271.38	275.83	281.65	286.10	291.92	296.37	302.19
Camarilla	284.66	285.60	286.54	287.48	288.42	289.36	290.30
Woodie	272.08	276.17	282.35	286.44	292.62	296.71	302.89
Fibonacci	275.83	279.75	282.17	286.10	290.02	292.44	296.37

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	216.78	245.14	260.38	288.74	303.98	332.34	347.58
Camarilla	263.64	267.64	271.63	275.63	279.63	283.62	287.62
Woodie	210.23	241.86	253.83	285.46	297.43	329.06	341.03
Fibonacci	245.14	261.79	272.08	288.74	305.39	315.68	332.34

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):	64.60
MACD (12,26,9):	2.0700
Directional Movement:	15.96
AROON (14):	71.43
DEMA (21):	291.07
Parabolic SAR (0,02-0,02-0,2):	287.57
Elder Ray (13):	1.30
Super Trend (3,10):	288.41
Zig ZAG (10):	291.71
VORTEX (21):	1.0600
Stochastique (14,3,5):	79.01
TEMA (21):	292.35
Williams %R (14):	-23.95
Chande Momentum Oscillator (20):	8.78
Repulse (5,40,3):	-0.0700
ROCnROLL:	1
TRIX (15,9):	0.0600
Courbe Coppock:	5.45

MA7:	286.88
MA20:	282.60
MA50:	298.10
MA100:	293.34
MAexp7:	291.39
MAexp20:	288.65
MAexp50:	286.31
MAexp100:	285.91
Price / MA7:	+2.00%
Price / MA20:	+3.55%
Price / MA50:	-1.84%
Price / MA100:	-0.25%
Price / MAexp7:	+0.42%
Price / MAexp20:	+1.38%
Price / MAexp50:	+2.20%
Price / MAexp100:	+2.35%

Quotes : - 15 min delayed data - Actions NASDAQ

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: