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Shares of Synopsys Has Risen Above Previous 52-Week High

By Nick Russo

Synopsys (NASDAQ:SNPS) traded today at a new 52-week high of $55.25. So far today approximately 75,000 shares have been exchanged, as compared to an average 30-day volume of 749,000 shares.

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 has overhead space with shares priced $55.20, or 1.1% below the average consensus analyst price target of $55.83. Synopsys shares have support at the 50-day moving average (MA) of $47.53 and additional support at the 200-day MA of $47.17.

Over the past year, Synopsys has traded in a range of $39.26 to $55.25 and is now at $55.20, 41% above that low. Over the past week, 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 27.3%. 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