According to Stock Traders Daily, a 2-year industry veteran, investors can use the price action in Cadence Design Systems (NASDAQ: CDNS) to foretell upcoming changes. A current example is provided below. There are trading plans for CDNS, but the data on this page does not update in real time. If you want a real time update, or a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
Term ? | Near | Mid | Long |
---|---|---|---|
Bias | Weak | Strong | Strong |
P1 | 0 | 0 | 132.91 |
P2 | 138.02 | 141.07 | 143.97 |
P3 | 141.32 | 145.56 | 154.31 |
Long Term Trading Plans for CDNS
April 22, 2021, 6:15 am ET
The Technical Summary and Trading Plans for CDNS help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this CDNS Report.
CDNS - (Long) Support Plan
The technical summary data tells us to buy CDNS near 132.91 with an upside target of 143.97. This data also tells us to set a stop loss @ 132.53 to protect against excessive loss in case the stock begins to move against the trade. 132.91 is the first level of support below 141.5 , and by rule, any test of support is a buy signal. In this case, support 132.91 would be being tested, so a buy signal would exist.
CDNS - (Short) Resistance Plan
The technical summary data is suggesting a short of CDNS as it gets near 143.97 with a downside target of 132.91. We should have a stop loss in place at 144.39though. 143.97 is the first level of resistance above 141.5, and by rule, any test of resistance is a short signal. In this case, if resistance 143.97 is being tested, so a short signal would exist.