Trading Cadence Design Systems $CDNS With Integrated Risk Controls

November 12, 2023, 06:15 am ET, BY Scott B.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for CDNS

• Buy CDNS slightly over 251.82 target 267.88 stop loss @ 251.09 Details

The technical summary data tells us to buy CDNS near 251.82 with an upside target of 267.88. This data also tells us to set a stop loss @ 251.09 to protect against excessive loss in case the stock begins to move against the trade. 251.82 is the first level of support below 261.56 , and by rule, any test of support is a buy signal. In this case, support 251.82 is being tested, a buy signal would exist.

• Short CDNS slightly under 267.88, target 251.82, stop loss @ 268.65 Details

The technical summary data is suggesting a short of CDNS as it gets near 267.88 with a downside target of 251.82. We should have a stop loss in place at 268.65though. 267.88 is the first level of resistance above 261.56, and by rule, any test of resistance is a short signal. In this case, if resistance 267.88 is being tested, a short signal would exist.

Swing Trading Plans for CDNS

• Buy CDNS slightly over 267.88, target n/a, Stop Loss @ 267.11 Details

If 267.88 begins to break higher, the technical summary data tells us to buy CDNS just slightly over 267.88, with an upside target of n/a. The data also tells us to set a stop loss @ 267.11 in case the stock turns against the trade. 267.88 is the first level of resistance above 261.56, and by rule, any break above resistance is a buy signal. In this case, 267.88, 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 267.88, target 255.56, Stop Loss @ 268.65. Details

The technical summary data is suggesting a short of CDNS if it tests 267.88 with a downside target of 255.56. We should have a stop loss in place at 268.65 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, 267.88, 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 265.08, target 267.88, Stop Loss @ 264.46 Details

If 265.08 begins to break higher, the technical summary data tells us to buy CDNS just slightly over 265.08, with an upside target of 267.88. The data also tells us to set a stop loss @ 264.46 in case the stock turns against the trade. 265.08 is the first level of resistance above 261.56, and by rule, any break above resistance is a buy signal. In this case, 265.08, 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 265.08, target 257.64, Stop Loss @ 265.7. Details

The technical summary data is suggesting a short of CDNS if it tests 265.08 with a downside target of 257.64. We should have a stop loss in place at 265.7 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, 265.08, 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 (CDNS) available here: CDNS.

CDNS Ratings for November 12:

Term →	Near	Mid	Long
Rating	Strong	Weak	Strong
P1	0	0	235.71
P2	257.64	238.00	251.82
P3	265.08	255.56	267.88

AI Generated Signals for CDNS

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Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Cadence Design Systems (NASDAQ: CDNS) report below can help you, but we have more details too. The trading plans for CDNS, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.