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Watch for Cadence Design to Potentially Pullback After Gaining 2.21% Yesterday

By Shiri Gupta

Cadence Design (NASDAQ:CDNS) traded in a range yesterday that spanned from a low of $70.09 to a high of $70.31. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $69.17 on volume of 863,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend 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.

In the past 52 weeks, shares of Cadence Design have traded between a low of $39.08 and a high of $70.49 and are now at $70.09, which is 79% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 0.9%.

Keywords: rebounders cadence design

Ticker(s): CDNS