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Peet_Serfontein
Jul 13, 2022 1:12 PM

CDNS: double top pattern? Short

Cadence Design Systems, Inc.NASDAQ

Description

The 200-day simple moving average acted as some major resistance.
A price action below 159.50 supports a bearish trend direction.
Further bearish trend support below 158.00.
Consolidation price range from 151.50 to 157.00
Crossing below 151.50 might target 146.00.
Crossing above 157.00 will be the first sign of pending strength.
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