Cadence Design Sys Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been observed for Cadence Design Sys (NASDAQ:CDNS), with a majority of investors taking a bearish stance. The price target range for the company, based on volume and open interest, is between $170.0 and $270.0. The current price of CDNS is $240.8, up 0.38%, and RSI indicators suggest the stock may be approaching overbought territory. Rosenblatt has downgraded its action to Buy with a price target of $250.
August 31, 2023 | 5:16 pm
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Unusual options activity has been observed for Cadence Design Sys, with a majority of investors taking a bearish stance. The stock may be approaching overbought territory.
The unusual options activity, with a majority of investors taking a bearish stance, suggests a potential downward pressure on the stock price. Additionally, the RSI indicators hinting at the stock being overbought further supports this prediction.
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