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     Wed. Oct. 28, 2020



Trading Signals: CDNS Stock Price Prediction and Forecast (Fri. Mar. 14, 2014 - Wed. Oct. 28, 2020)

(Cadence Design Systems Inc)

CDNS latest price $107.7800 (-1.81%) ($105.9300 - $109.3900) on Wed. Oct. 28, 2020.

Trend and Trading Plan

Trend Narrative  Correction
Intraday Reversal Probability  N/A.
Daily Trend  CDNS declines -0.6% a day on average for past five trading days.
Weekly Trend  CDNS declines -2.1% a week on average for past two weeks.
Market Behavior  Broad based sell-off for large cap. Broad based sell-off for small cap.
Correlated ETFs  Broad market will support CDNS decline at-1.8% a week (87% probability)
  IWF(87%)    QQQ(87%)    VUG(87%)    XLK(87%)    IVW(86%)  
Factors Impacting CDNS price  CDNS will decline at least -0.4% in a week (30% probabilities).
  VXX(-42%)    VIXM(-29%)    UUP(-29%)    XLC(-19%)    SHY(-16%)  
Explanation   The decline is sustainable and supported by the broad market.
Trading Plan  Not Available
 
Valuation to SPY   0.9
 
Relative Volatility   -0.3 (options are faily valued)
 
Hourly BBV   -1.2
Hourly Trend   -0.74% [$109.04(-1.13), $109.85(-0.53)]
Last Hour Trend   0.56% [$108.17, $107.56]


CDNS Next 1 - 5 Day Price Forecast

Bullish Probability  70%
Bullish Price Move  2.1%
Bearish Probability  30%
Bearish Price Move  -2.1%
Recommended Position Size  19%
Latest Price  $107.7800
Next Day Open Price  $108.99(1.12%)
1 - 3 Day Target Price  $105.13(-2.46%)
1 - 5 Day Price Range  $104.64 - $107.08
Resistance Level  $111.25
5 Day Moving Average  $109.75(-1.79%)
10 Day Moving Average  $111.63(-3.45%)
20 Day Moving Average  $111.25(-3.12%)
To recent high  -8%
To recent low  8.1%
Market Cap  $30.048b
 
Option Sentiment  
 
 
Earning Release Date  Thu. Jan. 28, 2021
Analyst One Year Target Price  $123.77 ($106.00 - $135.00)
  13 analysts (last updated on Tue. Oct. 20, 2020)
% to Average Target Price  14.84%
% to Low Target Price  -1.65%
% to High Target Price  25.26%
 


  
 
 


Cadence Design Systems, Inc. engages in the design and development of integrated circuits and electronic devices. Its products include electronic design automation, software, emulation hardware, and intellectual property, commonly referred to as verification IP, and design IP. The company was founded by Alberto Sangiovanni-Vincentelli, Gudmundur A. Hjartarson, K. Bobby Chao, and K. Charles Janac in June 1988 and is headquartered in San Jose, CA.


$. Technical analysis works only if the market conditions in the future are not drastically different from the past. Always read market news to understand the causes of the price movement before making a trading decision. News

$. CDNS price fluctuates within 3.24% (three month std-dev: 2.13%    one year average std_dev: 0%) daily (68% of days).
$. CDNS price fluctuates within 0% weekly (one year average std_dev: %).

Analysis   News   Options   Weekly Chart   Daily Chart   Hourly Chart   15 Minute Chart

iDateTo High-Lowema20
Trend
ema10
Trend
ema5
Trend
Hourly
Trend
Last
Hour
EMA
Ratio
BBVHourly
BBV
RVVSIVVIXCDVolume
millions
CloseActualPriceRangeTrend-Narrative  NextDay
PriceTarget  
NextDayPriceRangeRSI
1Oct_28_2020-8%-8.1% 1%,0.3(-0.1)-2.1%,-0.6(-0.3)-0.6%,-0.2-0.60.56%0.3%-1-1.20.91.5NAN%-3.61.59   107.78(-1.81%)105.93-109.39Correction 105.13(-2.46%)104.64-107.0850
2Oct_27_2020-6.3%-10.1% 1.5%,0.4(-0.1)-1.1%,-0.3(-0.3)-0.5%,-0.2-0.3-0.31%1.2%-0.4-0.70.11.6NAN%-0.60.91   109.77(-0.04%)109.68-112.2Correction 107.98(-1.63%)107.57-109.5957
3Oct_26_2020-6.3%-10.1% 1.7%,0.5(-0.1)0.1%,0(-0.3)-0.7%,-0.2-00.32%2%-0.3-0.901.6NAN%-0.21.01   109.81(-2.03%)108.11-112.22Uptrend Consolidation 110.16(0.32%)110.2-110.0763
4Oct_23_2020-4.3%-12.4% 2.1%,0.6(-0.1)1.1%,0.3(-0.3)-0.6%,-0.2-0.60.06%2.7%0.3-0.50.31.8NAN%0.81.07   112.09(2.55%)109.06-112.1Uptrend Consolidation 111.79(-0.27%)111.46-112.7962
5Oct_22_2020-6.7%-9.6% 2.5%,0.6(-0.1)2%,0.5(-0.2)-1.2%,-0.3-0.90.08%3.1%-0.3-2.1-0.61.9NAN%0.61.65   109.3(-1.74%)108.75-112.06Uptrend Consolidation 109.89(0.54%)109.75-110.3463
 
6Oct_21_2020-5%-11.5% 2.9%,0.6(-0.1)2.8%,0.6(-0.2)-1%,-0.2-0.60.13%3.4%0.2-2.40.42.2NAN%0.11.43   111.24(-1.23%)111.21-113.96Uptrend Consolidation 111.28(0.04%)110.74-112.9257
7Oct_20_2020-3.9%-12.9% 3.2%,0.7(-0)3.7%,0.8(-0.1)-0.7%,-0.2-0.6-0.2%3.8%0.6-2.20.82.3NAN%0.22.16   112.63(-0.84%)112-116Uptrend Consolidation 112.21(-0.37%)111.3-114.9363
8Oct_19_2020-3%-13.9% 3.3%,0.7(-0)4.2%,0.9(-0.1)-0.3%,-0.1-0.3-0.61%3.7%0.8-2.21.42.3NAN%1.21.59   113.59(-1.78%)112.91-117.1Uptrend Consolidation 112.78(-0.71%)111.66-116.1766
9Oct_16_2020-1.3%-17.2% 3.4%,0.7(0)4.7%,0.9(0)0.7%,0.1-0.3-0.03%3.7%1.30.31.52.4NAN%0.91.17   115.64(-0.28%)114.56-117.5Uptrend 118.68(2.63%)114.18-120.6172
10Oct_15_2020-1%-17.6% 3.2%,0.6(0.1)4.6%,0.9(0)1.2%,0.200.21%3.5%1.50.61.82.4NAN%0.71.46   115.97(-0.88%)114-116.55Relative Overbought 117.64(1.44%)111.2-122.9175
 
11Oct_14_2020-0.1%-18.6% 2.9%,0.6(0.1)4.6%,1(0)1.5%,0.30.90.19%3.5%21.12.32.3NAN%0.91.64   117.01(0.19%)115.8-118.22Uptrend 119.5(2.13%)114.92-121.4779
12Oct_13_2020-0.3%-19% 2.4%,0.6(0.1)4.4%,1(0.2)2%,0.51.80.13%3.3%2.31.52.42NAN%0.91.25   116.79(1.07%)115.29-117.87Growing Uptrend 119.56(2.37%)114.67-120.7781
13Oct_12_2020-1.4%-17.7% 2%,0.5(0.1)3.6%,1(0.1)1.5%,0.41.80.05%2.8%2.62.121.7NAN%1.31.44   115.55(3.25%)113.06-116.38Overbought 111.49(-3.51%)107.11-118.0870
14Oct_9_2020-4.5%-14% 1.5%,0.5(0.2)3.1%,1(0.1)1.2%,0.41.5-0.11%2.4%2.221.61.4NAN%1.11.02   111.91(2.35%)109.85-112.3Uptrend 112.78(0.78%)110.46-113.7868
15Oct_8_2020-6.7%-11.4% 0.8%,0.3(0.3)2.8%,1(-0)0.1%,00.90.06%2.1%1.81.31.11.3NAN%1.10.66   109.34(0.81%)107.94-109.55Uptrend 109.85(0.47%)108.32-110.5169
 
16Oct_7_2020-7.4%-10.5% 0.2%,0.1(0.2)2.9%,1.2(0.1)0.3%,0.10.30.13%1.8%1.70.81.11.2NAN%0.71.12   108.46(2.76%)105.79-108.99N/A 108.06(-0.37%)105.88-109.8564
17Oct_6_2020-9.9%-7.5% -0.3%,-0.1(0.2)2.5%,1.1(0.1)-0.1%,-0-0.3-0.23%1.2%0.7-10.71.1NAN%0.31.13   105.55(-1.77%)105.19-108N/A 105.56(0.01%)104.43-106.4856
18Oct_5_2020-8.3%-9.5% -0.8%,-0.3(0.1)2.4%,1(0.1)0.4%,0.2-0.60.04%1.2%1.60.30.91.2NAN%0.50.96   107.45(2.07%)106.04-107.68Uptrend Reversal 108.27(0.76%)107.58-108.7353
19Oct_2_2020-10.1%-7.7% -1.1%,-0.5(0.1)2.1%,0.9(0.1)0.3%,0.10.60.09%0.8%0.8-0.50.61.1NAN%0.71.32   105.27(-3.15%)104.48-107.48Uptrend Reversal 106.04(0.73%)105.39-106.4754
20Oct_1_2020-7.2%-12% -1.3%,-0.5(0.1)1.8%,0.7(0.3)1.3%,0.51.2-0.05%0.2%21.61.51.2NAN%0.91.84   108.7(1.91%)107.59-109.31Uptrend Reversal 109.56(0.79%)108.83-110.0463
 
21Sep_30_2020-8.9%-11% -1.5%,-0.4(0.1)1%,0.3(0.2)1.4%,0.40.9-0.24%-0.8%0.71.411.8NAN%0.81.8   106.66(0.81%)105.3-107.95Uptrend Reversal 107.9(1.16%)106.85-108.5959
22Sep_29_2020-9.7%-12.5% -1.7%,-0.4(0)0.1%,0(-0)0.6%,0.11.2-0.07%-1.6%0.41.51.12NAN%0.91.17   105.8(0.54%)105.65-106.94N/A 105(-0.76%)104.81-105.1452
23Sep_28_2020-10.2%-11.9% -1.9%,-0.4(0)0.2%,0.1(0.1)0.6%,0.10.90.15%-1.9%0.21.90.62.1NAN%0.91.43   105.23(1.57%)103.83-105.37Rebound 104.77(-0.44%)104.77-104.7759
24Sep_25_2020-11.6%-11.9% -2.1%,-0.5(0.1)-0.4%,-0.1(0.2)0.8%,0.20.30.18%-2.4%-0.22.10.42.2NAN%1.12.41   103.6(1.43%)100.88-104.13Rebound 104.05(0.43%)102.89-104.5446
25Sep_24_2020-12.8%-11.2% -2.4%,-0.5(-0)-1.4%,-0.3(0.3)0.2%,0-0.3-0.24%-2.8%-0.60.90.42.3NAN%1.21.68   102.14(2.4%)98.47-103.1Rebound 103.29(1.13%)100.49-104.541
iDateTo High-Lowema20
Trend
ema10
Trend
ema5
Trend
Hourly
Trend
Last
Hour
EMA
Ratio
BBVHourly
BBV
RVVSIVVIXCDVolume
millions
Close  5 Day
Target  
Trend
Narrative
  5 Day
Price Change  
SRIRSI
 
 
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