When the Price of Cadence Design Systems $CDNS Talks, People Listen

September 16, 2023, 03:15 am ET, BY John- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for CDNS

• Buy CDNS slightly over 226.96 target 242.44 stop loss @ 226.3 Details

The technical summary data tells us to buy CDNS near 226.96 with an upside target of 242.44. This data also tells us to set a stop loss @ 226.3 to protect against excessive loss in case the stock begins to move against the trade. 226.96 is the first level of support below 234.08 , and by rule, any test of support is a buy signal. In this case, support 226.96 would be being tested, so a buy signal would exist.

• Short CDNS slightly under 242.44, target 226.96, stop loss @ 243.14 Details

The technical summary data is suggesting a short of CDNS as it gets near 242.44 with a downside target of 226.96. We should have a stop loss in place at 243.14though. 242.44 is the first level of resistance above 234.08, and by rule, any test of resistance is a short signal. In this case, if resistance 242.44 is being tested, so a short signal would exist.

Swing Trading Plans for CDNS

• Buy CDNS slightly over 240.64, target 242.44, Stop Loss @ 239.95 Details

If 240.64 begins to break higher, the technical summary data tells us to buy CDNS just slightly over 240.64, with an upside target of 242.44. The data also tells us to set a stop loss @ 239.95 in case the stock turns against the trade. 240.64 is the first level of resistance above 234.08, and by rule, any break above resistance is a buy signal. In this case, 240.64, 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 240.64, target 226.96, Stop Loss @ 241.33. Details

The technical summary data is suggesting a short of CDNS if it tests 240.64 with a downside target of 226.96. We should have a stop loss in place at 241.33 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, 240.64, 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 236.06, target 240.64, Stop Loss @ 235.51 Details

If 236.06 begins to break higher, the technical summary data tells us to buy CDNS just slightly over 236.06, with an upside target of 240.64. The data also tells us to set a stop loss @ 235.51 in case the stock turns against the trade. 236.06 is the first level of resistance above 234.08, and by rule, any break above resistance is a buy signal. In this case, 236.06, 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 236.06, target 226.96, Stop Loss @ 236.61. Details

The technical summary data is suggesting a short of CDNS if it tests 236.06 with a downside target of 226.96. We should have a stop loss in place at 236.61 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, 236.06, 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 September 16:

Term →	Near	Mid	Long
Rating	Weak	Strong	Strong
P1	0	0	226.96
P2	236.06	240.64	242.44
P3	241.97	248.94	258.13

AI Generated Signals for CDNS

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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.