Swing Trade Cadence Design (CDNS) on Breakout Above 10-Week MA

about 2 months ago

Justin Nielsen

"Cadence Design, up 2.7%, is building the right side of this flat base with a traditional 376.44 buy area. After the 30 minute restriction period I bought some, and I have had success on this move before. Its a tight setup with a 10% deep flat base and solid relative strength."

Cadence Design (CDNS) presents a compelling swing trade opportunity as it breaks out above a tight 10-week moving average support. With a gain of 2.7% and a traditional entry at the 376.44 level, this long-term leader in chip design offers a well-defined technical setup ideal for a short-term position that can be scaled into a longer-term holding.

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