Cadence Sys at pivotal point, when will longs cash in 80% gains?

CADENCE DESIGN SYSTEMS INC. NASDAQ ($CDNS) After a 80% gain so far in 2019, CDNS is reaching a resistance point on which provides a tradable opportunity long or short. The stock has outpaced all but a few stocks this year in a in favourable sector, attracting money that the Semi and Chip stocks have lost, there may be the danger, rotation could be on the way back into the beaten down names which now hold value. The indicators are quite mixed but the RSI is showing bearish divergences since late march which should be considered before longing on momentum only.
It is advisable to set alerts for break in price of RSI trendline, the next few trading sessions should determine the stock direction for the weeks to come.




AVERAGE ANALYSTS PRICE TARGET $69.75
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
P/E RATIO 53
SHORT INTEREST 2%

COMPANY PROFILE
Cadence Design Systems, Inc. engages in the design and development of integrated circuits and electronic devices. Its products include electronic design automation, software, emulation hardware, and intellectual property, commonly referred to as verification IP, and design IP. The company was founded by Alberto Sangiovanni-Vincentelli, Gudmundur A. Hjartarson, K. Bobby Chao, and K. Charles Janac in June 1988 and is headquartered in San Jose, CA.