The Hourly View for CDNS
At the moment, CDNS (Get Ratings)’s price is up $0.61 (0.44%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as CDNS has now gone up 4 of the past 5 hours. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
CDNS ranks 33rd in terms of today’s price percentage change out of Business Services stocks.
CDNS’s Technical Outlook on the Daily Chart
At the time of this writing, CDNS’s price is up $1.72 (1.25%) from the day prior. This move is a reversal from the day prior, which saw price move down. As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Cadence Design Systems Inc’s price action over the past 90 days can be seen via the chart below.
CDNS: Daily RSI Analysis
For CDNS News Traders
News traders keeping an eye on CDNS may find value in this recent story:
SAN JOSE, Calif. & HSINCHU, Taiwan,, July 13, 2021–Cadence and UMC announced that the Cadence digital full flow has been optimized and certified for the UMC 22ULP/ULL process technologies.
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