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Uptrend ExhaustionArchive
- 7/19/2024 -
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Cadence Design Systems (CDNS) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Cadence Design Systems (CDNS). During the week, the CDNS dropped -35.72 points, or -11.32%, and closed at 279.95 on Friday, July 19, 2024. Weekly volume was 75% above average.
 Long-term trend: [See CDNS long-term trend chart]
A long-term uptrend had started on July 18, 2024 at 273.17 and reached 280.83 on July 19, 2024. CDNS gained -7.66 points, or -2.80%, in 0 weeks. The price is now at the 11.49% retracement level.
 Medium-term trend: [See CDNS medium-term trend chart]
A medium-term uptrend had started on May 12, 2022 at 132.32 and reached 328.99 on June 20, 2024. CDNS gained -196.67 points, or -148.63%, in 110 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (281.66) line. The support is usually stronger when technical indicators are oversold. 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 support line in a medium-term trend.
 Weekly Technical Indicators: [See CDNS weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 link to access Williams' Percentage Range help.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 July 18, 2024 at 273.17 and reached 280.83 on July 19, 2024. CDNS gained -7.66 points, or -2.80%, in 1 days. The price is now at the 11.49% retracement level.
 Daily Technical Indicators: [See CDNS daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since July 5, 2024. The distance between MACD and the signal line is relatively high and getting bigger.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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