Synopsys Inc (SNPS): Price Now Near $236.77; Daily Chart Shows Downtrend on 20 Day Basis

The Hourly View for SNPS

At the moment, SNPS (Get Ratings)’s price is up $2.2 (0.94%) from the hour prior. SNPS has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Of note is that the 20 hour changed directions on SNPS; it is now pointing up. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Out of Business Services stocks, SNPS ranks 33rd in regards to today’s price percentage change.

SNPS’s Technical Outlook on the Daily Chart

At the time of this writing, SNPS’s price is up $5.91 (2.56%) from the day prior. The daily chart shows that SNPS has seen 2 straight up days. Regarding the trend, note that the strongest trend exists on the 50 day timeframe. Most noteworthy in the world of moving averages on the daily chart is that the 200 day moving average has been crossed, with price now being above it. 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. The chart below shows SNPS’s price action over the past 90 days.


For SNPS News Traders

Investors and traders in SNPS may be particularly interested in the following story that came out in the past day:

Synopsys Extends Verification Hardware Market Leadership with Breakthrough Emulation Performance

Highlights of this Announcement:

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