Synopsys Inc. (SNPS) was mentioned by Jim Cramer in his Real Money column "What 'V'-Shaped Recovery?" as one of the S&P 500's top performers. Let's check out the charts and indicators of this company that helps with advanced technologies for chip design.
In the daily bar chart of SNPS, below, we can see that after a strong run-up from the middle of March to early July the shares have traded sideways. The cresting 50-day moving average line was tested earlier this month and that the rising 200-day moving average line is well below the market.
The On-Balance-Volume (OBV) line has been slowly weakening since early July and suggests that traders are slightly more aggressive sellers. The Moving Average Convergence Divergence (MACD) oscillator has been correcting lower since early June and is just slightly above the zero line.