The Greedy Trader Weekly Analysis
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Daily Price vs. Fibonacci:Near 38.2% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 5/10/2024 -
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Cadence Design Systems (CDNS) Technical Analysis

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Summary:
Weekly :Broken trend support lineTrend resistance at 286.16
Daily :Daily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the Cadence Design Systems (CDNS). During the week, the CDNS gained 5.85 points, or 2.08%, and closed at 287.48 on Friday, May 10, 2024. It was the best weekly gain since March 22, 2024. Weekly volume was -34% below average.

Long-term trend: [See CDNS long-term trend chart]
A long-term uptrend had started on November 4, 2022 at 138.76 and reached 327.36 on March 21, 2024. CDNS gained -188.60 points, or -135.92%, in 71 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (300.76) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.

Medium-term trend: [See CDNS medium-term trend chart]
A medium-term downtrend had started on March 21, 2024 at 327.36 and reached 270.39 on May 2, 2024. CDNS lost 56.97 points, or 17.40%, in 6 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (286.16). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See CDNS weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since April 12, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.

Short-term trend: [See CDNS short-term trend chart]
A short-term uptrend had started on May 2, 2024 at 270.39 and reached 290.54 on May 10, 2024. CDNS gained -20.15 points, or -7.45%, in 8 days. The price is now at the 15.19% retracement level.

Daily Technical Indicators: [See CDNS daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.12
Williams' Percentage Range (W%R) 62.00
Lane's Stochastic (%D-Slow) 79.49
Greed/Fear Indicator (GFI) 56.85
Moving Average Converg./Diverg. (MACD) -6.03
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.06
Williams' Percentage Range (W%R) 55.20
Lane's Stochastic (%D-Slow) 24.73
Greed/Fear Indicator (GFI) 38.93
Moving Average Converg./Diverg. (MACD) 14.52
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 340.07
Upper Bollinger Band 301.36
Quarterly Trendline Support 300.76
50 Day Moving Average 300.11
Price 287.48
Monthly Trendline Resistance 286.16
Daily Stochastic Crossing 286.04
20 Day Moving Average 284.07
Parabolic System 280.73
Weekly Stochastic Crossing 280.03
Lower Bollinger Band 272.50
Monthly Trendline Support 259.52
Sector and Industry
Description Name Rank
Sector Information Technology 4
Industry Application Software 33
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 270.39
Low Date 05/02/2024
High 290.54
High Date 05/10/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 270.39
Low Date 05/02/2024
High 290.54
High Date 05/10/2024
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Resistance
Resistance 286.16
Support 259.52
High 327.36
High Date 03/21/2024
Low 270.39
Low Date 05/02/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 340.07
Support 300.76
Low 138.76
Low Date 11/04/2022
High 327.36
High Date 03/21/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 132.32
Low Date 05/12/2022
High 327.36
High Date 03/21/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.