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Shares of Synopsys Has Risen Above Previous 52-Week High

By Shiri Gupta

Shares of Synopsys (NASDAQ:SNPS) traded at a new 52-week high today of $75.19. Approximately 77,000 shares have changed hands today, as compared to an average 30-day volume of 749,000 shares.

Synopsys has overhead space with shares priced $75.05, or 0.2% below the average consensus analyst price target of $75.22. 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.

In the past 52 weeks, Synopsys share prices have been bracketed by a low of $39.26 and a high of $75.19 and are now at $75.05, 91% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.

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 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 21.2%. 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