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

By Shiri Gupta

Shares of Synopsys (NASDAQ:SNPS) traded today at $59.35, breaking its 52-week high. This new high was reached on below average trading volume as 92,000 shares traded hands, while the average 30-day volume is approximately 749,000 shares.

Synopsys (NASDAQ:SNPS) is currently priced 5.7% 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.

Synopsys share prices have moved between a 52-week high of $59.35 and a 52-week low of $39.26 and are now trading 51% above that low price at $59.21 per share. The 200-day and 50-day moving averages have moved 0.11% lower and 0.62% higher over the past week, respectively.

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 36.5%. 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