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Look for Shares of Cadence Design to Potentially Rebound after Yesterday's 1.77% Sell Off

By Amy Schwartz

Cadence Design (NASDAQ:CDNS) traded in a range yesterday that spanned from a low of $43.16 to a high of $43.88. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $43.23 on volume of 205,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Cadence Design share prices have been bracketed by a low of $35.49 and a high of $47.40 and are now at $43.22, 22% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

SmarTrend is tracking the current trend status for Cadence Design and will alert subscribers who have CDNS in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders cadence design

Ticker(s): CDNS