|
|
|
|
Archive
- 11/8/2024 -
Sign In to see current Signals. |
Synopsys (SNPS) Technical Analysis
|
 |
| Summary:
| | Weekly :  | | Daily :
Move cursor over the icon to see details.
| | It was a second consecutive positive week for the Synopsys (SNPS). During the week, the SNPS gained 42.70 points, or 8.23%, and closed at 561.70 on Friday, November 8, 2024. Weekly volume was -14% below average.
SNPS 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 SNPS long-term trend chart]
A long-term downtrend had started on February 22, 2024 at 629.38 and reached 457.52 on September 9, 2024. SNPS lost 171.86 points, or 27.31%, in 28 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 434.54 and resistance is at 620.74. A Broadening Descending 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 Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See SNPS medium-term trend chart]
A medium-term uptrend had started on September 9, 2024 at 457.52 and reached 574.60 on November 7, 2024. SNPS gained -117.08 points, or -25.59%, in 8 weeks. The price is now at the 11.02% retracement level.
 Weekly Technical Indicators: [See SNPS weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.
Short-term trend: [See SNPS short-term trend chart]
A short-term uptrend had started on November 1, 2024 at 508.80 and reached 574.60 on November 7, 2024. SNPS gained -65.80 points, or -12.93%, in 6 days. The price is now at the 19.60% retracement level.
 Daily Technical Indicators: [See SNPS daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. 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 daily MACD line is above its signal line since October 29, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
| |
|
|
|
|
| Daily Oscillators |
|
|
| Weekly Oscillators |
|
|
| Trading
Signals |
|
|
|
| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Information Technology |
9 |
| Industry |
Application Software |
74 |
|
| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
508.80 |
| Low Date |
11/01/2024 |
| High |
574.60 |
| High Date |
11/07/2024 |
|
| Weekly Trend |
|
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
|
| Resistance |
|
| Support |
|
| Low |
508.80 |
| Low Date |
11/01/2024 |
| High |
574.60 |
| High Date |
11/07/2024 |
|
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
|
| Resistance |
|
| Support |
|
| Low |
489.77 |
| Low Date |
10/23/2024 |
| High |
574.60 |
| High Date |
11/07/2024 |
|
| Quarterly Trend |
|
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
|
| Resistance |
|
| Support |
|
| Low |
457.52 |
| Low Date |
09/09/2024 |
| High |
574.60 |
| High Date |
11/07/2024 |
|
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Broadening Right-Angled, Descending Wedge |
| Status |
Valid |
| Resistance |
620.74 |
| Support |
434.54 |
| High |
629.38 |
| High Date |
02/22/2024 |
| Low |
457.52 |
| Low Date |
09/09/2024 |
|
|