Score 8.2 (out of 10): SYNOPSYS indicates to return +15.9% rally in 2 months

57

What’s Going On Here?

Synopsys Unveils Breakthrough Golden Signoff ECO (engineering change order) Solution, Delivering 10x Productivity Improvement and enhanced power, performance and area (PPA) of advanced electronic designs.

Why Now?

SYNOPSYS appears to have reached a potential bottom. During similar occasions, SYNOPSYS shares had a median return of +15.9%, over the following 2 months – based on 10 historical occasions with 9 of those showing positive returns (90%). This buy signal for SYNOPSYS received a high score of 8.2 (out of 10). This insight was generated on 2022-October-13 with last price of 287.43.

What’s This Asset About?

SYNOPSYS is in the Computer Aided Design business. Based on the last 2 years’ risk/return profile, this asset is seen as Very Risky. Ticker symbol: SNPS US.

What’s My Risk / Reward and Time Horizon?

We found 2 months to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 333.18 (+15.9%) has been reached. Based on SYNOPSYS’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 273.53 (last price at 287.43), which is equivalent to a -4.8% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ under (2), etc.

Previous episodes:

16.5% (May-2022), 7.5% (September-2021), 17.6% (April-2021), 15.3% (October-2019), 5.4% (June-2019), 17% (April-2019), 29.8% (November-2018), -13.1% (July-2018), 20.2% (May-2018), 0.2% (December-2017).

Historical Chart:

Summary:

NameSYNOPSYS
ViewUp
Star (1 to 10)8.2
Target+15.9%
Time2 months
Hit Rate90%

Leave a Reply