Cadence Design Systems $CDNS Trading Report
The Cadence Design Systems (NASDAQ: CDNS) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for CDNS, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.
Review the Trading Plans:
Long Term Trading Plans for CDNS
February 21, 2020, 8:00 am ET
The Technical Summary and Trading Plans for CDNS help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this CDNS Report.
CDNS - (Long) Support Plan
The technical summary data tells us to buy CDNS near 72.64 with an upside target of 78.98. This data also tells us to set a stop loss @ 72.38 to protect against excessive loss in case the stock begins to move against the trade. 72.64 is the first level of support below 76.97 , and by rule, any test of support is a buy signal. In this case, support 72.64 is being tested, a buy signal would exist.
CDNS - (Short) Resistance Plan
The technical summary data is suggesting a short of CDNS as it gets near 78.98 with a downside target of 72.64. We should have a stop loss in place at 79.24 though. 78.98 is the first level of resistance above 76.97, and by rule, any test of resistance is a short signal. In this case, if resistance 78.98 is being tested, a short signal would exist.