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

By Nick Russo

Shares of Synopsys (NASDAQ:SNPS) traded today at $55.21, breaking its 52-week high. So far today approximately 86,000 shares have been exchanged, as compared to an average 30-day volume of 749,000 shares.

Synopsys (NASDAQ:SNPS) has potential upside of 1.1% based on a current price of $55.20 and analysts' consensus price target of $55.83. 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.

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.

Over the past year, Synopsys has traded in a range of $39.26 to $55.21 and is now at $55.20, 41% above that low. The 200-day and 50-day moving averages have moved 0.11% lower and 0.62% higher over the past week, respectively.

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 26.7%. 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