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Synopsys Looks to Continue to Trade Above its Annual-High Share Price Today

By David Diaz

Synopsys (NASDAQ:SNPS) traded today at a new 52-week high of $52.99. This new high was reached on below average trading volume as 90,000 shares traded hands, while the average 30-day volume is approximately 749,000 shares.

Synopsys share prices have moved between a 52-week high of $52.99 and a 52-week low of $39.26 and are now trading 35% above that low price at $52.92 per share. Over the past week, 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 5.5% based on a current price of $52.92 and analysts' consensus 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.

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 21.1%. 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

Ticker(s): SNPS