$CDNS has been in a “Go” trend since the middle of April.
We have seen a series of higher highs and higher lows after the technology software company emerged from the “NoGo” trend it was in. During this “Go” trend, GoNoGo Oscillator has been at or above zero, confirming the trend that we see in the price panel. Recently, we saw the oscillator test the zero level and find support, bouncing back into positive territory. This resurgent momentum in the direction of the “Go” trend has given price the boost it needed to rally to a new higher high above resistance from the prior high. With a “GoNoGo” score of 75, we know that $CDNS is performing well on a relative and multi time frame basis. We will look for price to consolidate at this higher level before potentially climbing further in the coming days and weeks.
