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.
3.55USD
848.952MUSD
3.562BUSD
269.425M
About Cadence Design Systems, Inc.
Sector
Industry
CEO
Anirudh Devgan
Website
Headquarters
San Jose
Employees (FY)
10.2K
Founded
1988
ISIN
US1273871087
Cadence Design Systems, Inc. engages in the design and development of integrated circuits and electronic devices. Its products include electronic design automation, software, emulation hardware, and intellectual property, commonly referred to as verification IP, and design IP. It operates through the following geographical segments: United States, Other Americas, China, Other Asia, Europe, Middle East and Africa and Japan. The company was founded by Alberto Sangiovanni-Vincentelli, Gudmundur A. Hjartarson, K. Bobby Chao, and K. Charles Janac in June 1988 and is headquartered in San Jose, CA.
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 $230 Puts in CDNS currently)
CDNS Entry, Volume, Target, StopEntry: with price above 239.90
Volume: with volume greater than 3.32M
Target: 257.5 area
Stop: Depends on your risk tolerance; Based on an entry of 239.91, a stop of 232.84 gets you 3/1 Reward to Risk Ratio.
This swing trade idea is not trade advice and is strictly based on my ideas and technical a
Cadence Design Systems(CDNS-Q)They make software that helps semis companies design their chips. Is up 382% in the past 5 years, outperforming the market. Up 27% YTD even after pulling back the past month.
CDNS - Similar W Continuation PatternsIntitial W is the same yet a little bit smaller
It provided a lane for price to extend a lot during the right arm of the W
The second one is currently experiencing the right arm of the W and looks to extend like the first
Bullish fractal
Sell CDNS May call spread 210/220 for 3.15 creditPost ER play, not expecting to cross previous highs due to low volume lower close on 04/25
CDNS Break Out$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.
$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%.
$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%.
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
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