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Synopsys Inc: The Winning Streak Continues (SNPS)

By David Diaz

Synopsys Inc (NASDAQ:SNPS) traded today at a new 52-week high of $80.70. So far today approximately 149,000 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 Inc share prices have moved between a 52-week high of $80.70 and a 52-week low of $50.97 and are now trading 58% above that low price at $80.46 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%.

There is potential upside of 4.0% for shares of Synopsys Inc based on a current price of $80.46 and an average consensus analyst price target of $83.71. The stock should discover initial support at its 50-day moving average (MA) of $47.53 and subsequent support at its 200-day MA of $47.17.

SmarTrend recommended that subscribers consider buying shares of Synopsys Inc 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 Inc have risen 30.1%. 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 inc

Ticker(s): SNPS