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CDNS Trade Setup & Entry

As a somewhat aggressive entry in anticipation of a breakdown below this H&S topping pattern, CDNS (Cadence Design Systems) will be added as an Active Short Trade here around the 24.59 level with an alternative, more conventional entry on a break below the neckline of the pattern. Negative divergences confirm the bearish nature of the Head & Shoulders topping pattern & foreshadow a likely trend reversal.

CDNS stock chart

CDNS daily Sept 13th

T1 is 23.09 & T2, the final target, is 22.28 with a suggested stop above 25.30 or lower for those awaiting a break below the neckline for their initial short entry. The Suggested Beta-Adjustment is 0.8.

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Sep 13, 2016 3:25pm|Categories: Completed Trades - Short|Tags: |Comments Off on CDNS Trade Setup & Entry