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Shares of Synopsys Has Risen Above Previous 52-Week High

By David Diaz

Shares of Synopsys (NASDAQ:SNPS) traded at a new 52-week high today of $61.00. This new high was reached on below average trading volume as 239,000 shares traded hands, while the average 30-day volume is approximately 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 share prices have moved between a 52-week high of $61.00 and a 52-week low of $39.26 and are now trading 55% above that low price at $60.87 per share. The 200-day and 50-day moving averages have moved 0.11% lower and 0.62% higher over the past week, respectively.

Based on a current price of $60.87, Synopsys is currently 8.3% 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.

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 36.8%. 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