Cadence Design Systems, Inc. (CDNS) is one of the super and best stock to buy as of March 26, 2019. It’s a big cap growth stocks with strong fundamentals and technical action. Let’s look at the stocks technical actions using a weekly chart.
2. The stock had a solid run up in most part of the 2017.
3. Then it entered a wild and long consolidation mode.
4. The stock dipped below the key 50 day moving average line many times during the consolidation.
5. The stock final resumed the upward move early this year and run was rock solid.
6. The stock even staying well above the 50 DMA support line.
7. Accumulation volume also heavy at times.
8. The stock appears to be in a quick consolidation mode. 9. The buying price would be $62.17 and $65.28
