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Bullish Moving Average Cross by Cadence Design (CDNS)

By David Diaz

Cadence Design (NASDAQ:CDNS) shares have crossed bullishly above their 10-day moving average of $57.56 on a volume of 197K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Cadence Design have traded between a low of $51.39 and a high of $80.40 and are now at $60.07, which is 17% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.4% while the 200-day MA has slid 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Cadence Design on February 24th, 2020 by issuing a Downtrend alert when the shares were trading at $72.47. Since that call, shares of Cadence Design have fallen 22.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses cadence design

Ticker(s): CDNS