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Bearish Moving Average Cross by Cadence Design (CDNS)

By Shiri Gupta

Cadence Design (NASDAQ:CDNS) crossed under its 10-day moving average of $68.29 on a volume of 623K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Cadence Design share prices have moved between a 52-week high of $70.49 and a 52-week low of $39.08 and are now trading 68% above that low price at $65.66 per share. The 200-day and 50-day moving averages have moved 1.16% higher and 1.55% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Cadence Design on January 15th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $44.89. Since that recommendation, shares of Cadence Design have risen 53.1%. We continue to monitor CDNS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses cadence design

Ticker(s): CDNS