CDNS moved above its 50-day moving average on September 28, 2023 date and that indicates a change from a downward trend to an upward trend. In of 33 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 53 cases where CDNS's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on September 29, 2023. You may want to consider a long position or call options on CDNS as a result. In of 86 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CDNS advanced for three days, in of 364 cases, the price rose further within the following month. The odds of a continued upward trend are .
CDNS may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The 10-day RSI Indicator for CDNS moved out of overbought territory on September 07, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 51 similar instances where the indicator moved out of overbought territory. In of the 51 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Moving Average Convergence Divergence Histogram (MACD) for CDNS turned negative on September 15, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 47 similar instances when the indicator turned negative. In of the 47 cases the stock turned lower in the days that followed. This puts the odds of success at .
The 10-day moving average for CDNS crossed bearishly below the 50-day moving average on September 27, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 16 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CDNS declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for CDNS entered a downward trend on August 29, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 90, placing this stock better than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. CDNS’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (21.882) is normal, around the industry mean (19.752). P/E Ratio (71.942) is within average values for comparable stocks, (153.005). Projected Growth (PEG Ratio) (3.006) is also within normal values, averaging (2.652). Dividend Yield (0.000) settles around the average of (0.088) among similar stocks. P/S Ratio (16.863) is also within normal values, averaging (74.348).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a developer of integrated circuits and electronic devices and provides software services
A.I.dvisor indicates that over the last year, CDNS has been closely correlated with SNPS. These tickers have moved in lockstep 91% of the time. This A.I.-generated data suggests there is a high statistical probability that if CDNS jumps, then SNPS could also see price increases.