Moving Average Crossover: Great News for Cadence (CDNS)?

Zacks

Cadence Design Systems Inc. (CDNS) is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for CDNS broke out above the 200 Day Simple Moving Average, suggesting a short-term bullish trend.

This has already started to take place, as the stock has moved higher by 7.5% in the past four weeks. Plus, the company currently has a Zacks Rank #1 (Strong Buy) suggesting that now could definitely be the time for this breakout candidate.



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