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Synopsys Bearish Moving Average Crossover Alert (SNPS)

By Shiri Gupta

Synopsys (NASDAQ:SNPS) shares have crossed bearishly below their 10-day moving average of $71.36 on a volume of 521K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Synopsys have traded between a low of $39.26 and a high of $73.08 and are now at $70.85, which is 80% 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.

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 16.6%. We continue to monitor SNPS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses synopsys

Ticker(s): SNPS