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Application Software Industry Stocks Technical Analysis - CDNSArchive
- 1/3/2025 -
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Cadence Design Systems (CDNS) Technical Analysis
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| Summary:
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| | It was the negative week for the Cadence Design Systems (CDNS). During the week, the CDNS gave back -1.00 points, or -0.33%, and closed at 303.90 on Friday, January 3, 2025. Weekly volume was -37% below average.
CDNS is a member of Information Technology Sector. Information Technology is the second 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 downtrend had started on June 20, 2024 at 328.99 and reached 241.29 on August 5, 2024. CDNS lost 87.70 points, or 26.66%, in 6 weeks. The price is now at the 71.39% retracement level.
 Medium-term trend: [See CDNS medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 241.29 and reached 326.19 on December 4, 2024. CDNS gained -84.90 points, or -35.19%, in 17 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 260.28 and resistance is at 336.95. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See CDNS weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since November 1, 2024. This is an indication that the medium-term trend is up. 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 January 2, 2025 at 295.80 and reached 306.20 on January 3, 2025. CDNS gained -10.40 points, or -3.52%, in 1 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See CDNS daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since December 4, 2024. The distance between MACD and the signal line is low, but getting bigger.
A Parabolic SAR (stop and reversal) indicator (306.51) comes close to the price (303.90). It indicates that the trend is getting weaker. 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.
The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (5.5%) is close to one year low (5.39%). It is 59.55% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.
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