CDNS – Cadence Design Systems, Inc.


Context Technical Analysis

Since late March, CDNS is moving in a strong bullish channel between its 20-day moving average and the upper Bollinger Band.

What’s more, CDNS price broke above the orange resistance line.

Finally, the price is currently moving on the upper Bollinger Band, an additional sign of strong strength.

Momentum

After a big rise, the MACD is moving horizontally, just above its Signal Line.

Relative Strength

The Relative Strength of CDNS is moving up and mostly above its 20-day moving average.

Higher Time Frame

From CDNS's weekly chart below, we can see:

· CDNS is moving above its rising 10- 20- and 50-week moving average

· CDNS is also moving above resistance line

· The MACD is rising and it’s above its signal line

· CDNS’s Relative Strength is moving up and above its 20-day moving average




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