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Bearish Moving Average Cross by Cadence Design Systems (CDNS)

By Amy Schwartz

Cadence Design Systems (NASDAQ:CDNS) crossed under its 10-day moving average of $32.97 on a volume of 215K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Cadence Design Systems share prices have been bracketed by a low of $18.13 and a high of $33.61 and are now at $32.83, 81% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.3%.

SmarTrend recommended that subscribers consider buying shares of Cadence Design Systems on February 2nd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.72. Since that recommendation, shares of Cadence Design Systems have risen 19.9%. 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 systems

Ticker(s): CDNS