Strong technical buy signal for Synopsys (SNPS)

Technical Analysis of Synopsys Inc. (ticker on Nasdaq: SNPS):

Synopsys (SNPS) shows strong development within both a long-term and short-term rising trend.

A new strong technical buy signal has now been triggered for Synopsys after breaking through a very important technical resistance level around USD 600.00.

There should now be significant technical support for the stock around the USD 600.00 level.

There has been a 'classic' test of the support level here now around USD 600.00, and now the share seems ready for further growth within both the short-term and long-term rising trend.

There is little technical resistance for further upside before around the USD 750.00 level, and up towards the upper trend line of the uptrend.

Based on the technical picture for the share, the potential is assessed to be around USD 750.00 in 1-3 months' time.

What could potentially change the currently very positive technical picture for the Synopsys share would be if the share were to have an established break below USD 590.00.