Cadence Design on Breakout watch

On the verge of breakout
Possible long entry $77.83
Target price $86.00
Stop loss $75.69
RSI in strong uptrend and room to run higher.
Upgrade rating from Benchmark
Benchmark analyst Ruben Roy assumed coverage of Cadence Design with a Buy rating and $90 price target. He believes both Cadence and Electronic Design Automation competitor Synopsys (SNPS) are well positioned to benefit from the increasing complexity of semiconductor designs, Roy tells investors.
thefly.com