Cadence Design (CDNS) remains bullish

We first highlighted Cadence Design Systems (CDNS) in our July 9 The Stock Pulse report. The stock continues to present a constructive technical setup following its breakout and retest from a bullish consolidation pattern that developed between early 2024 and mid-2025.

• Upside Potential: CDNS projects higher toward the 415–425 zone.

• Support Levels: Key tactical support rests at 340-339, where the rising 13-week moving average aligns nearby chart support. The breakout and retest zone at 330–325 provides additional support.

• Relative Strength: CDNS shows bottoming signs within its long-term leadership trend versus the S&P 500, adding conviction to the bullish outlook.

Overall, CDNS remains technically strong, with multiple layers of support reinforcing its bullish trend and upside potential.

Chart 1: Cadence Design (CDNS)