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Analysis: #NASDAQ $CDNS

Case 112 #Cadence_Design Systems

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

Thread 👇👇👇

#CDNS 1/3
Chart 1
Weekly Chart: A very healthy #trend was followed by a 5 month #parabolic move in 2019, #momentum since then had been lost as price failed to climb above 78.42. Price needs to break and hold above 74.75 to tackle cluster #resistance (73.25-76.10).

CDNS 2/3
Chart 2
Daily Chart: Price has broken above the #tradingrange and the main object remains 85.25 and possibly extending to 88.75.

The #Strategy is printed on the image.

$CDNS 3/3
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