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Bullish Moving Average Cross by Cadence Design Systems (CDNS)

By David Diaz

Cadence Design Systems (NASDAQ:CDNS) crossed over its 10-day moving average of $24.07 on a volume of 242K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Cadence Design Systems share prices have moved between a 52-week high of $25.49 and a 52-week low of $18.13 and are now trading 34% above that low price at $24.21 per share. The 200-day and 50-day moving averages have moved 0.33% higher and 0.74% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Cadence Design Systems on February 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.83. Since that recommendation, shares of Cadence Design Systems have risen 15.0%. 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