Million

Resistance

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>CDNS stock price trades below the major 20, and 50-day daily moving averages.</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>The CDNS company is involved in the creation and development of electronic devices and integrated circuits. It offers products such as design IP, verification IP, emulation hardware, software, and electronic design automation, also known as EDA. The company was established by K. Charles Janac, K. Bobby Chao, Gudmundur A. Hjartarson, and Alberto Sangiovanni-Vincentelli in June 1988 and its headquarters are in San Jose, CA.</p> 
<p>The CDNS stock has a float of 269.174 Million shares and a market cap of $62.311 Billion. The Cadence Design Syaytems, Inc. stock’s average volume for the last 10 days is 1.159 Million and its current volume is 1.058 Million. The Cadence Design stock has a CMP of $229.26 and an intraday loss of 0.86%.</p> 
<p>At the time of publishing, the major EMA’s are bearish in Cadence Design Systems, Inc. (NASDAQ: CDNS) and MACD shows a bearish cross on the charts with increasing width in the histogram and RSI is at 43 taking resistance from 14 SMA.</p> 
<p>The CDNS stock has been on an upward trend since March 2020, starting from $35 support and making higher highs and lows until it reached $248 by July 20th 2023. However, the uptrend was broken as the buyers failed to sustain the high level and the stock dropped due to shareholders taking profits from the last quarter earnings results. It tried again and reached back ATH again but declined as sellers pressure was higher.</p> 
<p>Cadence Design’s latest quarterly balance sheet for the period ending June 2023 reported total assets of $5.16 Billion and total liabilities of $2.25 Billion. The debt-to-assets ratio is 43.58%&nbsp; and has decreased from past few quarter reports which might be a good sign for the stock.</p> 
<p>The latest quarterly report for the period ending June 2023 showed a revenue of $976.58 Million, a net income of $221.12 Million, and a profit margin of 22.64%. This quarter, the reported revenue knocked out by analysts is estimated at $588.785 K. The next quarter’s revenue is estimated to be 1.002 Billion.</p> 
<p>CDNS does not offer any dividends to its shareholders. It seems unlikely that CDNS will pay any dividends in the future either. This means that the shareholders do not get any regular income from the CDNS stock and this reduces the attractiveness of the stock for many investors.</p> 
<h2 class="wp-block-heading" id="strong-cdns-stock-price-technical-analysis-in-1-d-timeframe-strong"><strong>CDNS Stock Price Technical Analysis in 1-D Timeframe</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="594" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-879-1024x594.png" alt="CDNS Stock Forecast: Can It (NASDAQ: CDNS) Incline More For $300?&nbsp;" class="wp-image-171597" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-879-1024x594.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-879-300x174.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-879-768x445.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-879-750x435.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-879-1140x661.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-879.png 1461w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: CDNS.1D.NASDAQ by TradingView
  </figcaption>
 </figure>
</div> 
<p><a href="https://www.thecoinrepublic.com/2023/09/13/cdns-stock-price-forecast-is-nasdaq-cdns-about-to-skyrocket/" target="_blank" rel="noreferrer noopener">Cadence Design Systems</a>, Inc. (NASDAQ: CDNS) is experiencing a decline from $248, The current market price of CDNS stock is $229.26 and is trying to sustain above the previous swing low.</p> 
<p>The stock may continue to fall further if it breaks below the previous swing low and breaks below $218, which could lead to a target of $210. On the other hand, if Cadence Design stock manages to reverse the trend and gain strong buying momentum. It could rise above $235 which could trigger a rally above $248 or higher.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>Cadence Design stock is facing resistance from ATH since previous quarterly earnings results invited some profit booking. The stock has no dividends and may fall to $210 or rise to $248 depending on the trend reversal. The technical indicators are bearish.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p><strong>Support levels</strong>: $218 and $210</p> 
<p><strong>Resistance levels</strong>: $235 and $248</p> 
<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 Forecast: Can It (NASDAQ: CDNS) Incline More For $300?

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