pool adsWhen the Price of Cadence Design Systems CDNS Talks, People Listen
This is not EF Hutton, but it could be more #powerful. A picture speaks a thousand words, they say, and the #priceaction of Cadence Design Systems (NASDAQ: CDNS) tells an important story. The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity. The data below for CDNS can be used as an example, and demonstrate how to do this for other stocks too. This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.
CDNS Ratings for June 21: Below:
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Strong | Neutral | Strong |
| P1 | 0 | 0 | 129.25 |
| P2 | 129.40 | 129.92 | 141.46 |
| P3 | 131.51 | 132.64 | 154.39 |
Support and Resistance Plot Chart for CDNS
Longer Term Trading Plans for CDNS
Our Longer Term Plans for CDNS help you determine where to buy, sell, short, and set risk controls. Use this in conjunction with our Longer Term Market Analysis to go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis and see how it helps you work with this CDNS Report.
Long Support Plan (Long Term Trading)
Buy CDNS over 129.25 target 141.46 stop loss @ 128.88
The technical summary data tells us to buy CDNS near 129.25 with an upside target of 141.46. This data also tells us to set a stop loss @ 128.88 to protect against excessive loss in case the stock begins to move against the trade. 129.25 is the first level of support below 132.6 , and by rule, any test of support is a buy signal. In this case, support 129.25 would be being tested, so a buy signal would exist.
Short Resistance Plan (Long Term Trading)
Short CDNS under 141.46, target 129.25, stop loss @ 141.87
The technical summary data is suggesting a short of CDNS as it gets near 141.46 with a downside target of 129.25. We should have a stop loss in place at 141.87though. 141.46 is the first level of resistance above 132.6, and by rule, any test of resistance is a short signal. In this case, if resistance 141.46 is being tested, so a short signal would exist.
Blue = Current Price
Red= Resistance
Green = Support
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