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After Yesterday's Rally of 1.52% Shares Could Potentially Pullback

By Amy Schwartz

Cadence Design (NASDAQ:CDNS) traded in a range yesterday that spanned from a low of $61.25 to a high of $62.09. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $61.43 on volume of 904,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Cadence Design on January 15th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $44.89. Since that recommendation, shares of Cadence Design have risen 36.3%. We continue to monitor CDNS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Cadence Design have traded between a low of $35.49 and a high of $62.09 and are now at $62.09, which is 75% above that low price. The 200-day and 50-day moving averages have moved 0.81% higher and 2.81% higher over the past week, respectively.

Keywords: rebounders cadence design

Ticker(s): CDNS