The Greedy Trader Weekly Analysis
Sign In May 22, 2020
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Number of records: 10
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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance

Cadence Design Systems (CDNS)

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overboughtLane's Stochastic is strongly overbought
Daily :Lane's Stochastic bearish divergence
Move cursor over the icon to see details.

It was the negative week for the Cadence Design Systems (CDNS). During the week, the CDNS gave back -0.39 points, or -0.47%, and closed at 82.07 on Friday, May 15, 2020. Weekly volume was 13% above average.

CDNS is a member of Information Technology Sector. Information Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See CDNS long-term trend chart]
A long-term uptrend had started on May 4, 2020 at 75.27 and reached 83.58 on May 11, 2020. CDNS gained -8.31 points, or -11.04%, in 1 weeks. The price is now at the 18.17% retracement level.

Medium-term trend: [See CDNS medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 51.39 and reached 83.58 on May 11, 2020. CDNS gained -32.19 points, or -62.64%, in 7 weeks. Price is near the trend high.

Weekly Technical Indicators: [See CDNS weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range or strongly overbought weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is below its signal line since December 6, 2019. The distance between MACD and the signal line is low and getting smaller. 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 4, 2020 at 75.27 and reached 83.58 on May 11, 2020. CDNS gained -8.31 points, or -11.04%, in 7 days. The price is now at the 18.17% retracement level.

Daily Technical Indicators: [See CDNS daily technical indicators chart]
Daily technical indicators are neutral. Daily Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.

The daily MACD line is below its signal line since April 30, 2020. The distance between MACD and the signal line is low, but getting bigger.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.67
Williams' Percentage Range (W%R) 42.90
Lane's Stochastic (%D-Slow) 76.61
Bearish
Greed/Fear Indicator (GFI) 61.79
Moving Average Converg./Diverg. (MACD) 2.93
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.45
Williams' Percentage Range (W%R) 13.60
Overbought
Lane's Stochastic (%D-Slow) 91.06
Strong Overbought
Greed/Fear Indicator (GFI) 76.39
Moving Average Converg./Diverg. (MACD) 6.94
Trading Signals
Description Value Chart
Upper Bollinger Band 83.48
Daily Stochastic Crossing 82.34
Price 82.07
Weekly Stochastic Crossing 81.30
20 Day Moving Average 80.12
Parabolic System 79.29
Lower Bollinger Band 74.81
50 Day Moving Average 71.01
Sector and Industry
Description Name Rank
Sector Information Technology 11
Industry Application Software 120
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 75.27
Low Date 05/04/2020
High 83.58
High Date 05/11/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 75.27
Low Date 05/04/2020
High 83.58
High Date 05/11/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 75.27
Low Date 05/04/2020
High 83.58
High Date 05/11/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 75.27
Low Date 05/04/2020
High 83.58
High Date 05/11/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 51.39
Low Date 03/18/2020
High 83.58
High Date 05/11/2020
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.

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