Learn to Evaluate (CDNS) using the Charts

June 18, 2024, 17:28 pm ET, BY Bill T.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for CDNS

• Buy CDNS slightly over 312.22 target 335.2 stop loss @ 311.32 Details

The technical summary data tells us to buy CDNS near 312.22 with an upside target of 335.2. This data also tells us to set a stop loss @ 311.32 to protect against excessive loss in case the stock begins to move against the trade. 312.22 is the first level of support below 326.5 , and by rule, any test of support is a buy signal. In this case, support 312.22 is being tested, a buy signal would exist.

• Short CDNS slightly under 335.2, target 312.22, stop loss @ 336.17 Details

The technical summary data is suggesting a short of CDNS as it gets near 335.2 with a downside target of 312.22. We should have a stop loss in place at 336.17though. 335.2 is the first level of resistance above 326.5, and by rule, any test of resistance is a short signal. In this case, if resistance 335.2 is being tested, a short signal would exist.

Swing Trading Plans for CDNS

• Buy CDNS slightly over 335.2, target n/a, Stop Loss @ 334.23 Details

If 335.2 begins to break higher, the technical summary data tells us to buy CDNS just slightly over 335.2, with an upside target of n/a. The data also tells us to set a stop loss @ 334.23 in case the stock turns against the trade. 335.2 is the first level of resistance above 326.5, and by rule, any break above resistance is a buy signal. In this case, 335.2, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short CDNS slightly near 335.2, target 320.3, Stop Loss @ 336.17. Details

The technical summary data is suggesting a short of CDNS if it tests 335.2 with a downside target of 320.3. We should have a stop loss in place at 336.17 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 335.2, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for CDNS

• Buy CDNS slightly over 335.2, target n/a, Stop Loss @ 334.42 Details

If 335.2 begins to break higher, the technical summary data tells us to buy CDNS just slightly over 335.2, with an upside target of n/a. The data also tells us to set a stop loss @ 334.42 in case the stock turns against the trade. 335.2 is the first level of resistance above 326.5, and by rule, any break above resistance is a buy signal. In this case, 335.2, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short CDNS slightly near 335.2, target 321.58, Stop Loss @ 335.98. Details

The technical summary data is suggesting a short of CDNS if it tests 335.2 with a downside target of 321.58. We should have a stop loss in place at 335.98 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 335.2, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for  Cadence Design Systems Inc. (CDNS) available here: CDNS.

CDNS Ratings for June 18:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	289.91
P2	315.41	312.62	312.22
P3	321.58	320.3	335.2

AI Generated Signals for CDNS

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When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet.  However, if we pay close attention we can see what is going on, and make good decisions.. The  Cadence Design Systems Inc. (NASDAQ: CDNS) report below can help you understand how to do this. The trading plans for CDNS, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.