Resistance Level Break outA break out to the upside of the resistance level may signal a trend reversal. by Tahawe0
Cadence Design Systems Stock Slides On Weak Q2 GuidanceCadence Design Systems ( NASDAQ:CDNS ), a San Jose-based electronic design automation software manufacturer, has released its first-quarter financial results. The company reported adjusted earnings of $1.17 per share on sales of $1.01 billion, beating FactSet's estimated earnings of $1.13 per share on sales of $1 billion. However, compared to the same period last year, the company's earnings fell by 9%, while sales decreased by 1%. This marks the company's first quarterly sales decline in more than eight years and the first decline in earnings on a year-over-year basis in nine quarters. Despite the positive first-quarter results, Cadence's ( NASDAQ:CDNS ) second-quarter guidance is below expectations. The company is forecasting adjusted earnings of $1.22 per share on sales of $1.04 billion, below analysts' predictions of $1.43 per share on sales of $1.11 billion. In the year-ago period, the company earned adjusted earnings of $1.22 per share on sales of $977 million. Cadence's CFO, John Wall, stated that the company had achieved a record Q1 backlog of approximately $6 billion, and the company had made two major acquisitions in the first quarter. On January 8th, Cadence ( NASDAQ:CDNS ) announced its acquisition of Invecas, a provider of design engineering, embedded software and system-level solutions, while on March 5th, the company announced its plan to purchase BETA CAE Systems International, a system analysis platform provider of multi-domain, engineering simulation solutions, for $1.24 billion. In response to Cadence's Q2 guidance, NASDAQ:CDNS stock plummeted by 9.3% to $258.60 in after-hours trading but shortly surged by 1.7% in Pre-market trading on Tuesday. The company's full-year outlook remains positive, with adjusted earnings of $5.93 per share on sales of $4.59 billion, matching FactSet's estimates. Last year, Cadence ( NASDAQ:CDNS ) earned adjusted earnings of $5.15 per share on sales of $4.09 billion. The stock has a Relative Strength Index (RSI) of 35.30 siting weak momentum from ( NASDAQ:CDNS ) stockLongby DEXWireNews3
CDNS a chip design software company LONGCDNS located in California is a software firm supporting computer assisted design ( ACAD) for the semi-conductor industry. While its customer base gets the headlines, this company helps make it happen. The 120 minute chart looks good as price is uptrending with good volume and relative strength. Earnings have been solid and another is around the corner. Price has appreciated 40% in six months. the trend angle of 13 degrees over the continuous uptrend is solid. I see this as a buy now before the earnings or after a minor correction to get a bit of a discount.Longby AwesomeAvaniUpdated 1
CDNSCadence Design Systems, Inc., headquartered in San Jose, California, is an American multinational computational software company, founded in 1988 by the merger of SDA Systems and ECAD, Inc. Potential swing long.Longby techpers1
CDNS: healthy correction?A price action below 271.00 supports a bearish trend direction. Crossing below 267.00 will trigger further support for the short-sell position. The target price is set at 256.00 (its 38.2% Fibonacci retracement level). The stop-loss is set at 282.00 (just above the full retracement). A "healthy correction" in the stock market typically refers to a short-term decline in stock prices that is considered normal and even beneficial for the overall health of the marketShortby Peet_Serfontein112
Potential Short on CDNS CDNS is currently in an ascending wedge with bearish RSI divergence. Look for a break of trend on smaller timeframe for entry, SL above last swing high, moving SL to BE when safe to do so.Shortby jason_rpprtUpdated 1
CDNS - Short Setup Looking for a break below 221.93, potential stop signal above 230.23, potential target 1: 201.53 (200sma) target 2: 152.23 // Insider selling during June July and August. (Disclosure : I own Sep $230 Puts in CDNS currently)Shortby AcornWealthCorp0
CDNS Entry, Volume, Target, StopEntry: with price above 239.90 Volume: with volume greater than 3.32M Target: 257.5 area Stop: Depends on your risk tolerance; Based on an entry of 239.91, a stop of 232.84 gets you 3/1 Reward to Risk Ratio. This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.Longby tradepatientlyUpdated 0
Cadence Design Systems(CDNS-Q)They make software that helps semis companies design their chips. Is up 382% in the past 5 years, outperforming the market. Up 27% YTD even after pulling back the past month.Longby KalaGhazii1
CDNS - Similar W Continuation PatternsIntitial W is the same yet a little bit smaller It provided a lane for price to extend a lot during the right arm of the W The second one is currently experiencing the right arm of the W and looks to extend like the first Bullish fractal by Bixley1
Sell CDNS May call spread 210/220 for 3.15 creditPost ER play, not expecting to cross previous highs due to low volume lower close on 04/25Shortby InvClub0
CDNS Break Out$CDNS broke through supply with volume before retesting on decreasing volume. The large red candle after earnings is slightly concerning. Watching for a continuation with strength. Longby PennantTrading0
$CDNS with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $CDNS after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 33.33%. by EPSMomentum0
$CDNS with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $CDNS after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 60%. Longby EPSMomentum0
CDNS - Bull and Bear Scenarios 4Hr Chart for CDNS The red hammer suggests the two points are comparable, and we are headed for a downward move The second scenario is that the middle green line hodls and price continues up through the higher triangle area Orange line emphasizes the bear scenario trend line by Bixley0
CDNS: double top pattern?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. Shortby Peet_Serfontein2
$CDNS under accumulation, approaching buy point$CDNS showing classic signs of being under accumulation, with a six month base, multiple pocket pivots and an up/down ratio of 1.43 - it has an acc/dis rating of A- on IBD and features in the top 50, with a composite rating of 96. Definitely worth keeping on watch for a break over $168.83by notprofessorgreen0
RectangleThere is also an ABC bullish pattern inside the rectangle. The target for this pattern is D. As a rule, price will reverse when it hits D if the pattern makes it to D. There is resistance from the upper trendline of the rectangle. In order for price to see full realization of the ABC bullish pattern, the upper trendline of the rectangle will need to be broken. Rectangles are neutral patterns without a break of a trendline. Retests of the trendline are common. The top and bottom trendlines are marked. No recommendationby lauraleaUpdated 110
WATCH $CDNSBearish Fundamental - High PE - Negative PEG ratio - Weak industry group TA - Bearish momentum divergence - Momentum diving - Broke down trend line - Rejected retest - Rejected fibo - Strong supper / resistance at POC level Shortby nexxtrade0
CDNS High-risk Initial LongCDNS High-risk Initial Long. SL and TP on the chart. If CFD 10-20x leverage. Move SL on TP.Longby loxxUpdated 2
Cadence Design Syst | Short to SupportCadence Design Systems ( NASDAQ:CDNS ) doesn't look very strong and is starting to regain downward momentum. If it doesn't break through the resistance line ($156-$158) in the coming weeks, I anticipate it will close the tiny gap between $136.96 and $137.11 and then test support near $125-$126 (if not lower to $120 - dotted blue line). Death cross started in early March with the 50 EMA crossing below to the 200 EMA. P/E 59.8 and insiders continue to sell. Shortby NicksAnalysisUpdated 0
CDNS - Another Tech is Approaching Deep Correction?Is it time for overpriced tech stocks like Cadence Design Systems , specialising in software and hardware, to go into considerable correction to let some steam out? Fundamental indicators: Revenue and Profits - demonstrated consistent long-term earnings growth over the past 10 years Profit margin - 23% in 2021 but dropped from 42% in 2020 P/E - extremely overpriced with 56x ratio Liabilities - no problems with debt Technically: An impulse like correction in March 2020 has completed Running Flat (ABC) wave 4 as part of bull trend that lasted since 2016 Since then the final wave 5 has commenced with 2 impulses that formed a zig-zag of wave 1 This choppy movement suggests that it is not a rapid impulse developing but an Ending Diagonal with 3-3-3-3-3 structure Hence two more zig-zags can be expected to reach and slightly update historic maximum of $192 Once the global wave is completed a deeper correction can be expected to the levels of $95-$120 which represent 0.382 and 0.5 Fibonacci retracement levels respectively What do you think about this scenario for Cadence Design Systems ? Please share your thoughts in the comments and like this idea if you would like to see more stocks analysed using Elliott Waves. ThanksLongby vitalalyt3
Potential Head & Shoulders forming? Cadence is meeting its resistance on daily chart. right shoulder is forming and potentially may go down to 148 levels! If it breaks it can touch its previous highs at 180sShortby serico5110