CDNS fails to close above 20-day moving average

Cadence Design Systems (CDNS) Technical Analysis Report for Sep 14, 2018


CDNS fails to close above 20-day moving average
CDNS closes within previous day's range
CDNS ends the day indecisive

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:


CDNS finished the week -0.39% lower at 46.26 after losing $0.05 (-0.11%) today. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for CDNS


Friday's trading range was $0.55 (1.19%), that's slightly below last trading month's daily average range of $0.59. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.


Prices are trading close to a key support level at 46.22. After spiking up to 46.66 during the day, the market found resistance at the 20-day moving average at 46.36.


Though Cadence Design is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 46.79 where further buy stops could get triggered. Selling might speed up should prices move below the close-by swing low at 45.79 where further sell stops could get activated. With prices trading close to this year's high at 47.40, upside momentum might accelerate should the share be able to break out to new highs for the year.


While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Cadence Design Systems

Condition Forecast Direction Win Rate Exit Day Events
2 Consecutive Lower Closes TQ Pro Members Only
Close near low of period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Bearish Bounce off SMA 20 TQ Pro Members Only
Bearish Break through SMA 50 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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