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Shares of Synopsys Has Risen Above Previous 52-Week High

By Amy Schwartz

Shares of Synopsys (NASDAQ:SNPS) traded at a new 52-week high today of $55.94. So far today approximately 56,000 shares have been exchanged, as compared to an average 30-day volume of 749,000 shares.

Based on a current price of $55.88, Synopsys is currently 0.1% above its 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.

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 $55.94 and a 52-week low of $39.26 and are now trading 42% above that low price at $55.88 per share. 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 28.7%. 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