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

By Amy Schwartz

Shares of Synopsys (NASDAQ:SNPS) traded today at $59.00, breaking its 52-week high. So far today approximately 74,000 shares have been exchanged, as compared to an average 30-day volume of 749,000 shares.

Synopsys (NASDAQ:SNPS) is currently priced 5.3% above its average consensus analyst price target of $55.83. The stock should discover initial support at its 50-day moving average (MA) of $47.53 and subsequent 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.

In the past 52 weeks, Synopsys share prices have been bracketed by a low of $39.26 and a high of $59.00 and are now at $58.93, 50% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

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 35.1%. 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