Based

Resistance

Simply

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>SNPS stock price decreased by 0.19% over the past week the current price is above major EMA’s and the current volume is above average volume.</a> </li> 
 <li> <span>2</span> <a>Synopsys Inc. (NASDAQ: SNPS) stock’s 52-week price range is around $267 – $471.</a> </li> 
</ul> 
<p>SNPS stock has been going up since November last year before the beginning of 2023; rising and buyers piling up.&nbsp;</p> 
<p>SNPS is a company with a strong growth potential and a solid financial position, according to the following reasons. First, its earnings are expected to grow by 18.5% per year, which is higher than both the average savings rate of 2.2% and the US market growth rate of 15.4% per year. As per Simply Wall St., its revenue is expected to grow by 11.7% per year, which is faster than the US market growth rate of 7.7% per year.&nbsp;</p> 
<p>Moreover, it has shown a consistent earnings growth of 20% per year in the past 5 years, which indicates its profitability and efficiency. It also has more cash than debt, which means it has a strong liquidity and solvency position. It has also reduced its debt-to-equity ratio from 19.6% to 0.3% in the past 5 years, which shows its financial stability and prudence.&nbsp;</p> 
<p>As per the information on the financial website, Simply Wall St., it has a high operating cash flow that covers its debt payments by 9748%, which means it has a low default risk and a high-interest coverage ratio. It also earns more interest than it pays, so it does not have any problem in meeting its interest obligations.</p> 
<p>SNPS stock price was at $459.14 with an intraday increase of 0.23%. Moreover, the intraday trading volume of SNPS is 830.012K higher than the 10-day aggregate volume of 763.059 K.</p> 
<p>Based on recent data, the revenue of the period ending July 2023 was $1.49 Billion with a net income of 336.25 Million. Moreover, the SNPS stock estimated EPS was 2.74, and the reported EPS was 2.88 which gave a positive surprise of 5.13%. Moreover, the forecasted EPS for the next quarter is positive at 3.04.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-snps-stock-price-in-1-d-timeframe-strong"><strong>Technical Analysis of SNPS Stock Price in 1-D Timeframe</strong></h2> 
<p>The price action shows that Synopsys Platforms Inc. (NASDAQ: SNPS) stock price took its major support from $306 in November with a swift uptrend and gave a streak of break of structures by making higher highs and lows.&nbsp;</p> 
<p>At the time of publication, the SNPS stock’s current price is around $459.14 trading near the supply zone where sellers are most likely to be active heavily. Therefore, as per price action, there could be two probable outcomes from this key level, either the SNPS price will rise more with heavy buyers and re-gain control over sellers and consume liquidity around the supply zone and rocket or the price will crash like an asteroid from this vital level and dominate buyers completely.</p> 
<p>Therefore, if Synopsys fails to maintain the current level, the <a href="https://www.thecoinrepublic.com/2023/08/14/snps-stock-price-prediction-will-synopsys-break-the-400-level/" rel="noopener noreferrer nofollow">SNPS</a> price could continue to drag downwards and hit the nearest support levels around $446 and $435.</p> 
<p>However, if the stock price sustains the current level and Synopsys price increases, then it might reach the nearest resistance levels of $465 and $470.</p> 
<p>At the time of publishing, Synopsys Inc. (NASDAQ: SNPS) is trading above the major 20 and 50-day exponential moving averages (EMA), which is supporting the SNPS price trend. RSI is at 58 in bullish territory and MACD shows a bullish crossover. Collectively, the indicators highlight bullish outlooks on the daily charts.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/SBZ_mdrv3nHl6wldwIzZnPYtrexBK04HSyhf8e_uZ3gVW4yXXRbjXGp6z3sqUsewI_tLLTaNvyi5WFBXvZ_QDvJq02gMR_YVZdEu5DqHkVFtYP0H8t6JR3zQQNnCWoTA3NF52YMXqK5BeaWRSba-klA" alt="Synopsys Stock Forecast: Is (NASDAQ: SNPS) About To Skyrocket?"> 
  <figcaption class="wp-element-caption">
    Source: SNPS.1D.NASDAQ by TradingView 
  </figcaption> 
 </figure> 
</div> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>Synopsys Inc. (NASDAQ: SNPS) indicates that the traders and investors of the stock price are positive and bullish on the 1-D time frame. The price action shows positivity and bullishness at the time of publishing and waiting to surpass the key supply zone. The technical analysis tools of Synopsys stock price also support bullishness. The EMA, RSI, and MACD highlight upward signals in Synopsys stock price.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels</strong>: The nearest support levels for Synopsys <a href="https://www.thecoinrepublic.com/2023/08/14/snps-stock-price-prediction-will-synopsys-break-the-400-level/" rel="noopener noreferrer nofollow">stock</a> price are $446 and $435.</li> 
 <li><strong>Resistance levels:</strong> The nearest resistance levels for the Synopsys stock price are $465 and $470.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

Synopsys Stock Forecast: Is (NASDAQ: SNPS) About To Skyrocket?

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