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Look for Shares of Synopsys Inc to Potentially Pullback after Yesterday's 1.81% Rise

By Nick Russo

Synopsys Inc (NASDAQ:SNPS) traded in a range yesterday that spanned from a low of $107.65 to a high of $109.95. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $108.33 on volume of 627,000 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 Synopsys Inc on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $86.50. Since that recommendation, shares of Synopsys Inc have risen 24.9%. We continue to monitor SNPS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Synopsys Inc share prices have been bracketed by a low of $79.14 and a high of $109.95 and are now at $109.95, 39% above that low price. The 200-day and 50-day moving averages have moved 0.39% higher and 1.99% higher over the past week, respectively.

Keywords: rebounders synopsys inc

Ticker(s): SNPS