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Shares of Synopsys Rise Above Previous 52-Week High

By James Quinn

Synopsys (NASDAQ:SNPS) traded at a new 52-week high today of $54.68. So far today approximately 124,000 shares have been exchanged, as compared to an average 30-day volume of 749,000 shares.

Over the past year, Synopsys has traded in a range of $39.26 to $54.68 and is now at $54.60, 39% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

Synopsys (NASDAQ:SNPS) has potential upside of 2.3% based on a current price of $54.60 and analysts' consensus price target of $55.83. 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.

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 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 25.2%. 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