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Bullish Moving Average Cross by Synopsys (SNPS)

By Shiri Gupta

Synopsys (NASDAQ:SNPS) shares have crossed bullishly above their 10-day moving average of $74.87 on a volume of 253K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Synopsys has traded in a range of $39.26 to $76.57 and is now at $75.09, 91% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Synopsys on January 24th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $61.82. Since that recommendation, shares of Synopsys have risen 19.3%. We continue to monitor SNPS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses synopsys

Ticker(s): SNPS