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Archive
- 12/13/2024 -
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Cadence Design Systems (CDNS) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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 -0.71 points, or -0.23%, and closed at 306.80 on Friday, December 13, 2024. Weekly volume was -13% below average.
 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 chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (257.93) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a long-term trend.
 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. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See CDNS weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with 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 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. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See CDNS short-term trend chart]
A short-term downtrend had started on December 4, 2024 at 326.19 and reached 301.70 on December 13, 2024. CDNS lost 24.49 points, or 7.51%, in 9 days. The price is now at the 20.82% retracement 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. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Information Technology |
7 |
| Industry |
Application Software |
83 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
315.04 |
| High Date |
12/09/2024 |
| Low |
301.70 |
| Low Date |
12/13/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
326.19 |
| High Date |
12/04/2024 |
| Low |
301.70 |
| Low Date |
12/13/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
245.45 |
| Low Date |
09/06/2024 |
| High |
326.19 |
| High Date |
12/04/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
241.29 |
| Low Date |
08/05/2024 |
| High |
326.19 |
| High Date |
12/04/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Symmetric Triangle |
| Status |
Broken Resistance |
| Resistance |
212.92 |
| Support |
257.93 |
| High |
328.99 |
| High Date |
06/20/2024 |
| Low |
241.29 |
| Low Date |
08/05/2024 |
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