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Synopsys Inc Set to Possibly Pullback After Yesterday's Rally of 2.32%

By Shiri Gupta

Synopsys Inc (NASDAQ:SNPS) traded in a range yesterday that spanned from a low of $89.17 to a high of $91.38. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $89.29 on volume of 347,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Synopsys Inc share prices have been bracketed by a low of $73.04 and a high of $94.80 and are now at $91.30, 25% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

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

Keywords: rebounders synopsys inc

Ticker(s): SNPS