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After Yesterday's Rally of 1.54% Shares Could Potentially Pullback

By Nick Russo

Cadence Design (NASDAQ:CDNS) traded in a range yesterday that spanned from a low of $45.42 to a high of $46.08. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $45.68 on volume of 524,000 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 April 24th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.56. Since that recommendation, shares of Cadence Design have risen 11.8%. 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 $46.99 and are now at $46.00, which is 30% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

Keywords: rebounders cadence design

Ticker(s): CDNS