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Synopsys, Inc.Synopsys, Inc.Synopsys, Inc.

Synopsys, Inc.

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SYP trade ideas

Synopsys Pulls BackSynopsys has pulled back after hitting new highs, and trend followers may take notice. The first pattern on today’s chart is the four-month consolidation pattern between May and early October. SNPS was mostly trapped below $465 during that time. But it broke out on October 6 and is now pulling back to that level. Has old resistance become new support? Second is the series of higher weekly lows during the period of consolidation. Those could reflect lurking buyers willing to step in. Next, a rising trendline has taken shape since mid-August. Prices have also pulled back near that potential support. Finally, the provider of semiconductor-design software seems to be in a secular uptrend. It broke out to record highs in May, despite the broader market remaining below the peak of early 2022. This could make trend followers anticipate continued momentum, especially with barely two months left in the year. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NASDAQ:SNPS
by TradeStation
1
RECTANGLEPrice appears to be in a horizontal trading channel. This pattern is neutral until broken. Short is around 1%. No recommendation. Synopsys, Inc. provides electronic design automation software products used to design and test integrated circuits. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions. It also provides intellectual property (IP) solutions for USB, PCI Express, DDR, Ethernet, MIPI, HDMI, and Bluetooth low energy applications; logic libraries and embedded memories; processor cores, software, and application-specific instruction-set processor tools for embedded applications; security IP solutions; IP solutions for automotive market; and system-on-chip (SoC) infrastructure IP, datapath and building block IP, and verification IP products, as well as mathematical and floating-point components, and Arm AMBA interconnect fabric and peripherals. In addition, the company offers HAPS FPGA-based prototyping systems; virtual prototyping solutions; and Platform Architect solutions for SoC architecture analysis and optimization, as well as a series of tools used in the design of optical systems and photonic devices. Further, it provides security testing, managed services, programs and professional services, and training that enable its customers to detect and remediate security vulnerabilities, and defects in the software development lifecycle, as well as manufacturing solutions. The company serves electronics, financial services, automotive, medicine, energy, and industrial areas. It has a strategic partnership with Intel Corporation to develop EDA and IP solutions. Synopsys, Inc. was incorporated in 1986 and is headquartered in Mountain View, California.
NASDAQ:SNPS
by lauralea
6
SNPS Entry, Volume, Target, StopEntry: with price above 468.03 Volume: with volume greater than 2.69M Target: 511 area Stop: Depending on your risk tolerance; Based on an entry of 453.70, 232.84 gets you 3/1 Reward to Risk Ratio. This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
NASDAQ:SNPSLong
by tradepatiently
1
SNPS Entry, Volume, Target, StopEntry: when price clears 468.03 Volume: with daily volume greater than 2.7M Target: 511 area Stop: Depending on your risk tolerance; 453.70 gets you 3/1 Risk/Reward. This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
NASDAQ:SNPSLong
by tradepatiently
SNPS - A Synopsis for SynopsysTechnical Indicators have begun to finally cool off for this one, but such a dramatic trip to the clouds often warrants a visit back to the tree tops before ascending into outer space... If the 2 month MACD crosses again and holds, then this stock has likely entered one of these 5 wave corrective structures outlined. There is always the potential for higher highs, but I would caution against any aggressive longs in this stock until the techs can reset much lower. Monthly MACD cross is still in effect. GLTA!
NASDAQ:SNPS
by kstrizzle001
Inverse Head and Shoulders //OverboughtEarnings are 8-17 after market close. Long entry is not usually ideal at overbought levels but we are all different. SNPS broke the neckline a while back. New ATH 381.70 I suppose the chips bill has energized the semiconductor stocks. On monthly this looks really steep. This has been overbought for a while with RSI on 80 versus 70. Overbought and oversold conditions can linger for some time, but it does get my attention. Typical RSI settings are 70 for overbought and 30 for oversold levels. Price is over the bands set on an 80 DMA which is also an overbought signal. Overbought is a term used when a security is believed to be trading at a level above its intrinsic or fair value. Overbought generally describes recent or short-term movement in the price of the security, and reflects an expectation that the market will correct the price in the near future. This will most likely pull back a bit before earnings. No recommendation
NASDAQ:SNPS
by lauralea
Can $SNPS continue to lead the tech sector?Notes: * Very strong up trend on all time frames * Amazing earnings track record * Basing for the past ~7 months while the Tech sector and the general market were getting hammered * Coming off of its 50 day line with higher than average volume * Coming up on the right side of its base * Offering a low risk entry * Showing tonnes of strength and signs of accumulation * Printed a pocket pivot indicating institutional buying Technicals: Sector: Technology - Software - Infrastructure Relative Strength vs. Sector: 1.48 Relative Strength vs. SP500: 1.42 U/D Ratio: 1.61 Base Depth: 44.77% Distance from breakout buy point: -14.32% Volume 20.92% above its 15 day avg. Trade Idea: * You can enter now as it's just bouncing off of its 50 day line with higher than average volume * If you're looking for a better entry you may be able to find one around the $317.73 area * This stock usually has local tops when the price closes around 12.54% above its 50 EMA * Consider selling into strength if the price closes 12.34% to 12.74% (or higher) above its 50 EMA * The last closing price is 5.42% away from its 50 EMA
NASDAQ:SNPSLong
by HaseebKhan_90
Price is Over Channel/Ws/Sharks, Cyphers & Fib LevelsPrice has broken the top trendline of the channel down. Many of the stocks have the W pattern in the chart as of late. This one has moved a lot more and much faster than the others with this W that I have been watching. Valley 2 is lower than valley 1, and the retrace/uptrace leg hit the .382, so when this turned up for the last leg of the W, I then know this could be Cypher or a Shark, and it is a bearish harmonic pattern even though the last leg of the W can be an excellent long. The Cypher is labeled and measured in a different way than the Shark and is also less common. The Cypher is labeled XABCD and D is calculated using the XC leg or the entire structure and lands close to the .786 of XC. Price has passed the .786 of OX, or the first leg, on it's way up so that is a clue that this is a Shark. The uptrace or second leg of the Cypher should hit the .382 to the .618 range, not much more or much less. So there is a rule for leg 2 which is AB. There is not a rule for the Shark's 2nd leg as long as it does not pass O. The Shark lands close to the .886 of OX but sometimes hits around the 1.113 of OX. The 1.113 and the .886 are marked. The prior bullish shark (peak 2 is higher than peak1) in this chart hit the 1.113, so it does happen. If it were to break the right shoulder resistance level, then it is back to the drawing board. Price has touched the .886 on Monday. The crooked W is called the bearish version of each of these patterns. The crooked M is known as the bullish version, but can feel mighty bearish on the last leg down, just like the bearish version can feel pretty bullish on that last leg up. The bearish versions have the impulse wave to the downside. To measure crooked Ws, I put the fib table with the 0 at the bottom as I am looking for a level to the upside. For bullish structures or crooked Ms, the 0 goes on top as I am looking for price to pull back on the last leg. There is also a head and shoulders pattern and SNPS is trying hard to break that right shoulder. Time will tell and unfortunately any pattern, support level, trendline or resistance level can fail. The Auto-Fib Retracement tool on here is great for nailing a turning point (o: No recommendation and watching for now. Neutral until price makes a definitive move. Sorry for the messy chart but I wanted to leave the fib tables on the chart. If I can't spot the sucker within 30 minutes of sitting down at a table, it could be me )o:
NASDAQ:SNPS
by lauralea
Channel Down SNPS is hitting some hard resistance at the top trend line of the channel down. Sometimes it is easier to draw trendlines on weekly, then switch back to daily and see where the weekly trendlines you drew line up with price. The trendlines of the channel down seem to be narrowing a very small amount. This is also a head and shoulders top which has broken the neckline once and price recovered. Strong stock in the semiconductor space. No recommendation. EPS - Entry/profit target/stop loss (o:
NASDAQ:SNPS
by lauralea
Head and ShouldersPossible stop above neckline. There is a level of support below the neckline at 275 and may be a more conservative short entry. Short interest is low at less than 1% and this is a strong stock that I used to own. I am having issues about marking this short )o: so investigate. Earnings 5-18 with forecasts saying this could be an earnings beat. SNPS may not go down without a fight as I have been watching this one struggle for a while now. The head and shoulders pattern is a predicting chart formation that usually indicates a reversal in the trend where the market makes a shift from bullish to bearish , or vice-versa. There will likely be price differences between the 2 shoulder heights and the pattern formation is rarely perfectly shaped in its appearance. The “head” is formed when the price increases after the 1st shoulder retraces, creating a high peak above the level of the first shoulder formation. From this point, the price falls and creates the second shoulder, which is usually similar in appearance to the first shoulder. The head and shoulders pattern does well in a bear market and not so great in a bull market. The Inverse head and shoulders pattern does best in a bull market as I have seen many Inverse H&S fail as of late. The neckline is often placed at the end of the 1st shoulder. It is usually obvious where the neckline formed as there will often be a struggle at that level to stay above the support of the neckline. In order to guesstimate how much prices will move after the neckline is broken, you can measure the distance, vertically, from the top of the head to the neckline. This would be a 100% move down from the neckline, but price can fall less or more than this number. Fib levels can be applied to the like with the 0 level placed at the neckline. The pattern is not valid until there is a clean break of the neckline with a confirmed downtrend. No recommendation. Bad news contributed to the 2nd shoulder and it did not surpass the head.
NASDAQ:SNPSShort
by lauralea
7