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

By Amy Schwartz

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.

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

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.

Keywords: rebounders synopsys inc

Ticker(s): SNPS