Synopsys Inc (SNPS): Price Now Near $247.97; Daily Chart Shows An Uptrend on 50 Day Basis

The Hourly View for SNPS

Currently, SNPS (Get Ratings)’s price is up $1.9 (0.77%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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 62nd 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 $0.81 (0.33%) from the day prior. This move is a reversal from the day prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 20 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. The chart below shows SNPS’s price action over the past 90 days.

SNPS

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