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Recent 52-Week High Exceeded in Shares of Synopsys (SNPS)

By James Quinn

Shares of Synopsys (NASDAQ:SNPS) traded at a new 52-week high today of $54.46. This new high was reached on below average trading volume as 76,000 shares traded hands, while the average 30-day volume is approximately 749,000 shares.

Over the past year, Synopsys has traded in a range of $39.26 to $54.46 and is now at $54.42, 39% above that low. The 200-day and 50-day moving averages have moved 0.11% lower and 0.62% higher over the past week, respectively.

Potential upside of 2.6% exists for Synopsys, based on a current level of $54.42 and analysts' average consensus price target of $55.83. The stock should find initial support at its 50-day moving average (MA) of $47.53 and further support at its 200-day MA of $47.17.

Synopsys, Inc. supplies electronic design automation solutions to the global electronics market. The Company provides design technologies to creators of advanced integrated circuits, electronic systems, and systems on a chip. Synopsys also provides consulting services and support to its customers to streamline the overall design process and accelerate time to market.

SmarTrend recommended that subscribers consider buying shares of Synopsys on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.32. Since that recommendation, shares of Synopsys have risen 24.9%. We continue to monitor SNPS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows synopsys

Ticker(s): SNPS