Cadence Design Systems, Inc. (CDNS)

Purchase Info

Stock Price History

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Our View

Cadence Design Systems is best known for making software that helps automate the design and verification process of integrated circuits and large chip systems. The company has also developed hardware used on chips and printed circuit boards. Trends like the Internet of Things, Self-Driving Vehicles, and Artificial Intelligence present significant growth opportunities for Cadence in the longer term.

The Long term monthly chart for Cadence Design Systems shows a 10-year uptrend that has accelerated in the last couple of years. The past 12 months have seen the price rise by 100% and hit a peak of $147 before pulling back by about 20%. The $118 level has acted as a resistance in the past and now looks to be acting as a support. The price in June 2021 is also bouncing back up from this $118 level and the bottom of the long-term trend. A long position can be initiated with a target price of $147. A minimum stop loss can be placed below the support level, somewhere around $115.

Position entered into our long-term tracking portfolio today. The entry point is $128.73, and stop-loss is placed at $106.37, which is 17% below the entry point. The short-term to medium-term profit at the top of the trend is set at $147.92, giving a profit of 15%.

Data Explained

On the video and images above you will see the reason this stock was selected.

You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.

Once it is time to move the original stop loss up you will see an additional image.

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