SNPS – Dangerous Correction Wave Nearing Completion?
Title:
SNPS – Corrective Rally May Be Nearing Exhaustion
📅 Forecast Date:
May 19, 2025
Asset:
Synopsys, Inc. (SNPS)
Bias:
Short-Term Upside Potential, Medium-Term Bearish Risk
Target Zone:
Potential final push toward $590
Current Setup:
Rally is unfolding in a corrective structure with exhaustion signs
🔎 Replay / Chart Link:
🧠 Analysis Summary:
The rally since April appears corrective, not impulsive. Overlapping price action, coupled with weak volume, indicates that this may be a wave B or part of a larger complex correction. Historically, these setups often resolve with one final push in the dominant trend direction before fully reversing to the origin.
Aggressive traders may consider a minor long with a tight trailing stop for the last upward attempt. The key resistance is near $590. If price fails to break that zone with strong volume, a sharp selloff toward $400 or lower is likely.
📈 Outcome Expectation:
Short-term upside possible, but high probability of reversal toward $360–$400 zone once the structure completes.
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