How the price action of Synopsys (SNPS) is used to our Advantage
February 20, 2023, 21:00 pm ET, BY Patrick- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for SNPS
- Buy SNPS slightly over 340.79 target 372.06 stop loss @ 339.81 Details
The technical summary data tells us to buy SNPS near 340.79 with an upside target of 372.06. This data also tells us to set a stop loss @ 339.81 to protect against excessive loss in case the stock begins to move against the trade. 340.79 is the first level of support below 354.45 , and by rule, any test of support is a buy signal. In this case, support 340.79 is being tested, a buy signal would exist.
- Short SNPS slightly under 372.06, target 340.79, stop loss @ 373.13 Details
The technical summary data is suggesting a short of SNPS as it gets near 372.06 with a downside target of 340.79. We should have a stop loss in place at 373.13though. 372.06 is the first level of resistance above 354.45, and by rule, any test of resistance is a short signal. In this case, if resistance 372.06 is being tested, a short signal would exist.
Swing Trading Plans for SNPS
- Buy SNPS slightly over 360.75, target 372.06, Stop Loss @ 359.71 Details
If 360.75 begins to break higher, the technical summary data tells us to buy SNPS just slightly over 360.75, with an upside target of 372.06. The data also tells us to set a stop loss @ 359.71 in case the stock turns against the trade. 360.75 is the first level of resistance above 354.45, and by rule, any break above resistance is a buy signal. In this case, 360.75, 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 SNPS slightly near 360.75, target 340.79, Stop Loss @ 361.79. Details
The technical summary data is suggesting a short of SNPS if it tests 360.75 with a downside target of 340.79. We should have a stop loss in place at 361.79 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, 360.75, 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 SNPS
- Buy SNPS slightly over 360.75, target 361.19, Stop Loss @ 359.91 Details
If 360.75 begins to break higher, the technical summary data tells us to buy SNPS just slightly over 360.75, with an upside target of 361.19. The data also tells us to set a stop loss @ 359.91 in case the stock turns against the trade. 360.75 is the first level of resistance above 354.45, and by rule, any break above resistance is a buy signal. In this case, 360.75, 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 SNPS slightly near 360.75, target 340.79, Stop Loss @ 361.59. Details
The technical summary data is suggesting a short of SNPS if it tests 360.75 with a downside target of 340.79. We should have a stop loss in place at 361.59 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, 360.75, 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 Synopsys (SNPS) available here: SNPS.
SNPS Ratings for February 20:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Neutral |
Neutral |
| P1 |
0 |
0 |
308.64 |
| P2 |
361.19 |
360.75 |
340.79 |
| P3 |
376.92 |
375.47 |
372.06 |
AI Generated Signals for SNPS
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Synopsys (NASDAQ: SNPS) data table below can help you with price action, and we have more details too. Trading plans for SNPS are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for SNPS:
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