Cadence Design Systems Stock Scores Rising Relative Strength

Cadence Design Systems (CDNS) stock saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, with an increase from 67 to 76.

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This exclusive rating from Investor’s Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price behavior over the trailing 52 weeks holds up against all the other stocks in our database.

Decades of market research shows that the market’s biggest winners typically have an 80 or better RS Rating in the early stages of their moves. See if Cadence Design Systems stock can continue to rebound and clear that threshold.

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Is Cadence Design Systems Stock A Buy?

Cadence Design Systems stock is trying to complete a consolidation with a 327.36 entry. See if the tech stock can break out in heavy volume. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.

The San Jose, Calif.-based company reported negative growth for both sales and earnings last quarter.

Cadence Design Systems holds the No. 3 rank among its peers in the Computer Software-Design industry group. Synopsys (SNPS) is the No. 1-ranked stock within the group.

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