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Bullish Moving Average Cross by Cadence Design (CDNS)

By James Quinn

Cadence Design (NASDAQ:CDNS) shares have crossed bullishly above their 10-day moving average of $74.85 on a volume of 203K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Cadence Design has traded in a range of $39.08 to $75.60 and is now at $75.17, 92% above that low. The 200-day and 50-day moving averages have moved 0.81% higher and 0.48% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Cadence Design on June 10th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $66.58. Since that recommendation, shares of Cadence Design have risen 12.2%. 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