Monday, June 6, 2016

Synopsys - Chart of the Day

Synopsys (SNPS) is the Barchart Chart of the Day.  The software stock has a Trend Spotter buy signal, a Weighted Alpha of 10.30+ and gained 10.77% in the last 6 months.

The Chart of the Day belongs to Sysopsys (SNPS).  I found the software stock by using Barchart to sort today's All Time High list first for the highest frequencies of new highs in the last month, then again for technical buy signals of 80% or more.  Next I used the Flipchart feature to review the charts for consistency.  Since the Trend Spotter signaled a buy on 5/20 the stock gained 10.42%.

Synopsys, Inc. is one of the leading suppliers of electronic design automation software to the global electronics industry. The company's products are used by designers of integrated circuits, including system-on-a-chip integrated circuits, and the electronic products that use such integrated circuits to automate significant portions of their chip design process. Integrated circuits are distinguished by the speed at which they run, their area, the amount of power they consume and the cost of production.

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the web site when you read this report.

Barchart technical indicators:

  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 14 new highs and up 9.63% in the last month
  • Relative Strength Index 70.92%
  • Technical support level at 51.88
  • Recently traded at 52.47 with a 50 day moving average of 49.03
Fundamental factors:
  • Market Cap $7.97 billion
  • P/E 30.64
  • Revenue expected to grow 6.30% this year and another 5.50% next year
  • Earnings estimated to increase 7.90% this year, an additional 8.00% next year and continue to compound at an annual rate of 10.42% for the next 5 years
  • Wall Street analysts issued 3 strong buy, 2 buy and 2 hold recommendations on the stock

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