Cadence 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...
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 -...
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 180s
Bearish divergence on 4H and Daily. Daily stoch RSI turning down after overbought condition, stoch RSI already declining on 4H. Divergence on MACD-H and EFI as well.
Entry: 158.85
Stop: 164,13
TP1: 148.1
TP 2: 145,6
Earnings beating + good news and good growth mean that some firm cashed in on their investment which drove the price down. stop-loss before the next resistance 2:1 return long
The PEAD projected a slight bullish outlook after positive over reaction following its earnings release placing the stock in drift B
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CDNS fell from a bearish rising wedge and changed the handle low in the process.
Hoping fall is complete
HL (handle low) is now very close to mid cup which is 107.5
Possible Stop under Handle low or mid cup..if you plan to handg on to this long term, I would place stop somewhere below 107.5 considering possible market volatility until election
Earnings over...
I see a rising wedge inside of a much larger upwards sloping trend line. Stock may have gotten ahead of itself and could retest $105 (trendline from March).
The pink box shows that price has been rejected at the highs. See the wicks.
Dropping to $105 would not be bearish. Bearish if breaking below that.
Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced results for the second quarter of 2020.
Cadence reported second quarter 2020 revenue of $638 million, compared to revenue of $580 million reported for the same period in 2019. On a GAAP basis, Cadence achieved operating margin of 24 percent and recognized net income of $131 million, or $0.47 per share on...
Hey guys, CADENCE DESIGN SYSTEMS is on a strong trend support bullish movement, rejection of buyers at the end of the session we are at the top of the stabilization zone and the possibility of breaking it.
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Hi guys, me again. Let’s get on with some more signals.
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