Londinia Opportunities Analyses - 12/20/2024 (GMT) CADENCE DESIGN SYSTEMS INC. - 1H
- U.S. Stocks
- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
6%
78%
17%
My opinion
Bearish under 302.54 USD
My targets
287.49 USD (-3.25%)
274.51 USD (-7.62%)
My analysis
CADENCE DESIGN SYSTEMS INC. is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 302.54 USD. The next support located at 287.49 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 274.51 USD. Below this support, sellers could then target 263.01 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
8
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Additional analysis
Quotes
CADENCE DESIGN SYSTEMS INC. rating 297.14 USD. The price registered a decrease of -0.91% on the session and was between 295.98 USD and 299.82 USD. This implies that the price is at +0.39% from its lowest and at -0.89% from its highest.295.98
299.82
297.14
The Central Gaps scanner detects a bearish gap which is a sign that the sellers have taken the lead in the very short term.
Opening Gap DOWN
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
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of CADENCE DESIGN SYSTEMS INC. in 1H shows a overall strongly bearish trend. 89.29% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish trend reversal : Moving Average 50
Type : Bearish
Timeframe : 1 hour
In fact, 14 technical indicators on 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 263.01 | 274.51 | 287.49 | 297.14 | 298.44 | 302.54 | 307.75 |
| Change (%) | -11.49% | -7.62% | -3.25% | - | +0.44% | +1.82% | +3.57% |
| Change | -34.13 | -22.63 | -9.65 | - | +1.30 | +5.40 | +10.61 |
| Level | Minor | Intermediate | Intermediate | - | Major | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 290.45 | 295.11 | 297.49 | 302.15 | 304.53 | 309.19 | 311.57 |
| Camarilla | 297.93 | 298.58 | 299.23 | 299.87 | 300.52 | 301.16 | 301.81 |
| Woodie | 289.31 | 294.54 | 296.35 | 301.58 | 303.39 | 308.62 | 310.43 |
| Fibonacci | 295.11 | 297.80 | 299.46 | 302.15 | 304.84 | 306.50 | 309.19 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 284.86 | 292.56 | 299.65 | 307.35 | 314.44 | 322.14 | 329.23 |
| Camarilla | 302.68 | 304.04 | 305.39 | 306.75 | 308.11 | 309.46 | 310.82 |
| Woodie | 284.57 | 292.41 | 299.36 | 307.20 | 314.15 | 321.99 | 328.94 |
| Fibonacci | 292.56 | 298.21 | 301.70 | 307.35 | 313.00 | 316.49 | 322.14 |
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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 33.24 | |
| MACD (12,26,9): | -2.5800 | |
| Directional Movement: | -22.08 | |
| AROON (14): | -28.57 | |
| DEMA (21): | 303.21 | |
| Parabolic SAR (0,02-0,02-0,2): | 311.88 | |
| Elder Ray (13): | -3.61 | |
| Super Trend (3,10): | 310.09 | |
| Zig ZAG (10): | 299.87 | |
| VORTEX (21): | 0.7900 | |
| Stochastique (14,3,5): | 13.35 | |
| TEMA (21): | 300.79 | |
| Williams %R (14): | -96.98 | |
| Chande Momentum Oscillator (20): | -11.88 | |
| Repulse (5,40,3): | -1.2400 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0700 | |
| Courbe Coppock: | 6.56 |
| MA7: | 307.10 | |
| MA20: | 308.70 | |
| MA50: | 291.94 | |
| MA100: | 279.82 | |
| MAexp7: | 302.39 | |
| MAexp20: | 306.00 | |
| MAexp50: | 307.96 | |
| MAexp100: | 307.84 | |
| Price / MA7: | -3.24% | |
| Price / MA20: | -3.74% | |
| Price / MA50: | +1.78% | |
| Price / MA100: | +6.19% | |
| Price / MAexp7: | -1.74% | |
| Price / MAexp20: | -2.90% | |
| Price / MAexp50: | -3.51% | |
| Price / MAexp100: | -3.48% |
Quotes :
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15 min delayed data
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Actions NASDAQ
News
The latest news and videos published on CADENCE DESIGN SYSTEMS INC. at the time of the analysis were as follows:
- The Cadence Abilities Group Sparks Belonging at Work and in the Community
- Cadence Appoints Moshe Gavrielov to Board of Directors
- 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