• Return to Headlines

Cadence Design Crosses Below its 10-day MA (CDNS)

By James Quinn

Today, shares of Cadence Design (NASDAQ:CDNS) have crossed bearishly below their 10-day moving average of $45.11 on a volume of 167K 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.

Over the past year, Cadence Design has traded in a range of $34.51 to $46.00 and is now at $44.90, 30% above that low. The 200-day and 50-day moving averages have moved 0.23% higher and 0.65% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Cadence Design on April 24th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.56. 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