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CADENCE DESIGN SYS INCCC

CADENCE DESIGN SYS INC

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CDNS trade ideas

Cadence Design Syst | Short to SupportCadence Design Systems ( NASDAQ:CDNS ) doesn't look very strong and is starting to regain downward momentum. If it doesn't break through the resistance line ($156-$158) in the coming weeks, I anticipate it will close the tiny gap between $136.96 and $137.11 and then test support near $125-$126 (if not lower to $120 - dotted blue line). Death cross started in early March with the 50 EMA crossing below to the 200 EMA. P/E 59.8 and insiders continue to sell.
NShort
by WorthlessViews
CDNS - Another Tech is Approaching Deep Correction?Is it time for overpriced tech stocks like Cadence Design Systems , specialising in software and hardware, to go into considerable correction to let some steam out? Fundamental indicators: Revenue and Profits - demonstrated consistent long-term earnings growth over the past 10 years Profit margin - 23% in 2021 but dropped from 42% in 2020 P/E - extremely overpriced with 56x ratio Liabilities - no problems with debt Technically: An impulse like correction in March 2020 has completed Running Flat (ABC) wave 4 as part of bull trend that lasted since 2016 Since then the final wave 5 has commenced with 2 impulses that formed a zig-zag of wave 1 This choppy movement suggests that it is not a rapid impulse developing but an Ending Diagonal with 3-3-3-3-3 structure Hence two more zig-zags can be expected to reach and slightly update historic maximum of $192 Once the global wave is completed a deeper correction can be expected to the levels of $95-$120 which represent 0.382 and 0.5 Fibonacci retracement levels respectively What do you think about this scenario for Cadence Design Systems ? Please share your thoughts in the comments and like this idea if you would like to see more stocks analysed using Elliott Waves. Thanks
NLong
by vitalalyt
Cup and HandleCDNS fell from a bearish rising wedge and changed the handle low in the process. Hoping fall is complete HL (handle low) is now very close to mid cup which is 107.5 Possible Stop under Handle low or mid cup..if you plan to handg on to this long term, I would place stop somewhere below 107.5 considering possible market volatility until election Earnings over for this quarter and looks like CDNS did well NV is high Short interest is low Not a recommendation
NLong
by lauralea
2Q Earnings CUP AND HIGH VOLUM BUY CDNS 103.70$Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced results for the second quarter of 2020. Cadence reported second quarter 2020 revenue of $638 million, compared to revenue of $580 million reported for the same period in 2019. On a GAAP basis, Cadence achieved operating margin of 24 percent and recognized net income of $131 million, or $0.47 per share on a diluted basis, in the second quarter of 2020, compared to operating margin of 23 percent and net income of $107 million, or $0.38 per share on a diluted basis, for the same period in 2019. 1% CAPITAL
NLong
by Benji-13
Signals For 23/06/2020Hi guys, me again. Let’s get on with some more signals. EURUSD – the price is in a resistance at 1.13. If the price holds above – long with a target at 1.1340, but if it’s a false breakout, short with a target at 1.1260 GBPUSD – the price got a bounce for the level at 1.25, I recommend a short with a target at 1.2430 USDCAD – the price is in a range between 1.36 and 1.35and tried to get a bounce from the bottom, so you can long with a target at 1.36, if the price impulses out the bottom and forms and entry, you can short with a target at 1.34 Oil- the price tried to hold above 40.50, so I expect a bounce from 41/50. If a reversal pattern forms – you can long with a target at 41.50. If it breaks out and holds below, you can short with a target at 39. AMD - the price is in a consolidation between 55.50 and 54. I’m feeling bullish, so I expect a breakout follow by an entry pattern, after which you can long with a target at 57.50 BIIB - the price is in a range between 270 and 260, so we once again have to wait for a reaction. If it impulses out the top, you can long with a target at 285. If it impulses out the bottom, you can short with a target at 240. CDNS - the price tried to break an all-time high last session, but holding above 94, I recommend you long with a target at 97. That’s about it, I hope you found this useful, have a good day.
N
by Horizon_Trading
CDNS - Uptrend + Pinbar from value zoneI. Analysis 1. Strong in an uptrend as defined by the series of hh/hl + price trading above 20MA - looking for long opportunities 2. 20MA tested trice as support and held - value zone identified 3. Significant bullish pinbar formed upon third test of 20MA - entry trigger To sum up, we are trading in the direction of the trend - after all the trend is our friend. We are trading from a vale zone as identified by the 20MA - this zone allows us to set an obvious stop loss + expanding the potential profits to be taken increasing the r/r ratio. Finally, we have a clear entry trigger as well in the form of a bullish pinbar. II.Trade 1. Enter next candle 2. SL 1 ATR below 20MA // traing 20MA for trend following 3. TP next sing high for traders with more pain aversion // TP once price crosses and holds below 20MA for trend followers (trace SL) Plsd to hear yr comments. Cheers Ruben
NLong
by ruben_rodrigues