Based

Resistance

Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>CDNS stock price decreased by 2.29% over the past week the current price is above major EMA’s and the current volume is below average volume.</a> </li> 
 <li> <span>2</span> <a>Cadence Design Systems Inc. (NASDAQ: CDNS) stock’s 52-week price range is around $138 – $248.</a> </li> 
</ul> 
<p>CDNS stock has been rising since November 2022, before the beginning of 2023, and displayed buyers’ accumulation. The stock encountered a barrier near the supply range and retracement in the previous sessions up to 23.60% fibo and bounced back.</p> 
<p>CDNS stock has been going up and buyers have been piling up. CDNS stock price was at $236.46 with an intraday decrease of 2.79%. Moreover, the intraday trading volume of CDNS is 986.418K lower than the 10-day aggregate volume of 1.221 Million.</p> 
<p>Based on recent data, the revenue of the period ending June 2023 was $975.58 Million with a net income of $221.12 Million. Moreover, the CDNS stock estimated EPS was 1.18, and the reported EPS was 1.22 which gave a positive surprise of 3.10%. Moreover, the forecasted EPS for the next quarter is positive at 1.20.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-cdns-stock-price-in-1-d-timeframe-strong"><strong>Technical Analysis of CDNS Stock Price in 1-D Timeframe</strong></h2> 
<p>The price action shows that Cadence Platforms Inc. (NASDAQ: CDNS) stock price took its major support from $138 with a swift uptrend and gave a streak of break of structures by making higher highs and lows.&nbsp;</p> 
<p>According to the price action, it seems that the CDNS stock is ready for a significant increase, with potential growth in price for the upcoming sessions. The stock’s upward direction is supported by the CDNS buyers who are trying hard to maintain these levels.</p> 
<p>At the time of publication, the CDNS stock’s current price is around $236.46 trading near the supply zone where sellers are most likely to be more active. Therefore, as per price action, there could be two outcomes from this key level, either the price will ascend more with heavy buyers and re-establish control over sellers, and the CDNS price may also consume liquidity around the supply zone and become a rocket or the price will crash like a meteor from this vital level and dominate buyers completely.</p> 
<p>If Cadence fails to maintain the current level, the CDNS price could continue to drag downwards and hit the nearest support levels of $220 and $200.</p> 
<p>However, if the stock price sustains the current level and Cadence <a href="https://www.thecoinrepublic.com/2023/08/01/cadence-design-price-prediction-will-cdns-stock-price-fall-soon/">price</a> increases, then it might reach the nearest resistance levels of $247 and $263.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="566" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-336-1024x566.png" alt="" class="wp-image-167531" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-336-1024x566.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-336-300x166.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-336-768x424.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-336-750x414.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-336-1140x630.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-336.png 1461w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: CDNS.1D.NASDAQ by TradingView
  </figcaption>
 </figure>
</div> 
<p>At the time of publishing, Cadence Design Systems Inc. (NASDAQ: CDNS) is trading above the major 20 and 50-day exponential moving averages (EMA), which is supporting the CDNS price trend.&nbsp;</p> 
<p>The current value of RSI is 51.03 points. The 14 SMA is below the median line at 59.25 points.</p> 
<p>The MACD line at 2.99 and signal line at 2.50 are below the zero line and both lines have narrowed towards each other.&nbsp;</p> 
<p>Collectively, all the mentioned indicators are highlighting neutral to positive sentiment.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/08/01/cadence-design-price-prediction-will-cdns-stock-price-fall-soon/" target="_blank" rel="noreferrer noopener">Cadence Design Systems Inc. (NASDAQ: CDNS) </a>indicates that the traders and investors of the stock price are neutral to bullish on the 1-D time frame. The price action shows a neutral to bullish view at the time of publishing. The technical analysis tools of Cadence stock price also support the consolidation to bullishness. The EMA, RSI, and MACD highlight consolidation to upward signals in Cadence stock price.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels</strong>: The nearest support levels for Cadence stock price are $220 and $200.</li> 
 <li><strong>Resistance levels:</strong> The nearest resistance levels for the Cadence stock price are $247 and $263.</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>

CDNS Stock Price Forecast: Is (NASDAQ: CDNS) About To Skyrocket?

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