Synopsys, Inc.Short
Stock Of The Day / 05.12.2024 / SNPS
12.05.2024 / SNPS
Fundamentals. Negative catalyst after earnings report and weak 2025 forecast.
Technical analysis.
Daily chart: nearest potential support level is 515.00 formed by the nearest break in the trend.
Premarket: Gap Down on moderate volume.
Trading session: The price forms a pronounced tightening to the level 532.00 against the initial downward movement, after a non-pullback decline from the opening of the session. We are considering a short deal in continuation of the initial movement.
Trading scenario: pullback along the trend (false tighten) to the level 532.00
Entry: 529.30 breakdown of the trend line of the tightening structure.
Stop: 532.27 above the held level 532.00
Exit: Close part of the position on 520.56 after an unsuccessful attempt to update lower low. Close the rest when exiting upward from the consolidation.
Risk Reward: 1/3
SNPS Fundamentals. Negative catalyst after earnings report and weak 2025 forecast.
Technical analysis.
Daily chart: nearest potential support level is 515.00 formed by the nearest break in the trend.
Premarket: Gap Down on moderate volume.
Trading session: The price forms a pronounced tightening to the level 532.00 against the initial downward movement, after a non-pullback decline from the opening of the session. We are considering a short deal in continuation of the initial movement.
Trading scenario: pullback along the trend (false tighten) to the level 532.00
Entry: 529.30 breakdown of the trend line of the tightening structure.
Stop: 532.27 above the held level 532.00
Exit: Close part of the position on 520.56 after an unsuccessful attempt to update lower low. Close the rest when exiting upward from the consolidation.
Risk Reward: 1/3
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