Cadence Design Systems (CDNS) Trading Report

Source: Stock Traders Daily

Longer Term Trading Plans for CDNS
  • Buy CDNS over 174.04 target n/a stop loss @ 173.54. Details
  • The technical summary data tells us to buy CDNS near 174.04, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 173.54 to protect against excessive loss in case the stock begins to move against the trade. 174.04 is the first level of support below 186.55, and by rule, any test of support is a buy signal. In this case, if support 174.04 is being tested, a buy signal would exist.

  • NONE . Details
  • NONE .
    There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for CDNS
  • Buy CDNS over 192.61, target n/a, Stop Loss @ 192.05 Details
  • If 192.61 begins to break higher, the technical summary data tells us to buy CDNS just over 192.61, with an upside target of n/a. The data also tells us to set a stop loss @ 192.05 in case the stock turns against the trade. 192.61 is the first level of resistance above 186.55, and by rule, any break above resistance is a buy signal. In this case, 192.61, 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 near 192.61, target 186.22, Stop Loss @ 193.17. Details
  • The technical summary data is suggesting a short of CDNS if it tests 192.61 with a downside target of 186.22. We should have a stop loss in place at 193.17 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, 192.61, 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 over 191.44, target 192.61, Stop Loss @ 190.99 Details
  • If 191.44 begins to break higher, the technical summary data tells us to buy CDNS just over 191.44, with an upside target of 192.61. The data also tells us to set a stop loss @ 190.99 in case the stock turns against the trade. 191.44 is the first level of resistance above 186.55, and by rule, any break above resistance is a buy signal. In this case, 191.44, 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 near 191.44, target 186.22, Stop Loss @ 191.89. Details
  • The technical summary data is suggesting a short of CDNS if it tests 191.44 with a downside target of 186.22. We should have a stop loss in place at 191.89 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, 191.44, 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.

CDNS Ratings for August 06:

Term →Near Mid Long
Rating Strong Strong Neutral
P1 0 0 134.84
P2 184.12 186.22 154.27
P3 191.44 192.61 174.04

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CDNS Long Term Analysis for August 6 2022


CDNS Swing Trading Analysis for August 6 2022


CDNS Day Trading Analysis for August 6 2022

This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Cadence Design Systems (NASDAQ: CDNS) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for CDNS change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if CDNS is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Evitar Corte monitors the FOMC for Market Crash signals:
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