- SNPS fell below its 21-month, +125% uptrend line in early August. A brief rally tried to counter this breakdown but failed. The zoom chart reveals that SNPS has formed a downtrend with a pattern of lower highs. The weekly chart shows that the next level of long-term support. From the 2023 breakout, is more than 20% lower at the 285 level.
RRG analysis shows that SNPS is stuck deep in the Lagging quadrant with low relative strength and low relative momentum.
Relative Rotation Graphs (RRG) – explanation video
Jeff Marcus founded Turning Point Analytics (TPA) in 2009 after 25 years on trading desks and 13 years as a head trader to provide strategic and technical research to institutional clients. Turning Point Analytics (TPA) provides a unique strategy that works as an overlay to clients’ good fundamental analysis. After 10 years of serving only large institutions, TPA now offers its research services to mid and small managers, RIA’s, and wealthy sophisticated individuals looking for a way to increase their returns and outperform their peers.
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