Cadence delivered fabulous results for the 4th quarter of 2019 in which it beat on all metrics, this is very likely to continue as its new products have received very robust adoption. The company has quite a high P/E ratio but with current growth, investors may be willing to pay that premium. The selling in the last few days is slightly worrying heading to...
CDNS is shifting sideways after a strong run out of a bottoming formation. The sideways action patterns out some of the speculation and provides support for the stock to move higher.
If you just look on the left of each stock and learn about their candlestick and patterns you will learn a ton.
Hanging Man Only works after the next candle stick confirm it.
Yesterday in the day chart CDNS closed with a long legged doji. From the chart patterns and technical analysis. No confirmed direction yet where the price of this stock is going. Although from technical indicators RSI, CCI & Volume it might go more to the down side.
*** This is not an investment advise ***
With the exponential increase in the use of FPGAs and ASICs, CDNS is in a nice position.
In addition, trend and momentum are confirmed by Trading Shift Indicator -- see link below.
This is another great ascending triangle possible breakout. I will be buying options at the open today 1/12/17 if this opens higher. Longer term trend bullish
![CDNS: [CDNS] phase 3 -> Sell](https://s3.tradingview.com/k/KupNfl2x_mid.png "[CDNS] phase 3 -> Sell")
