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Cadence Design Systems said its full electronic design automation flow is now qualified to run natively on AWS Graviton, supporting scalable Arm-based workflows for chip design. Shares edge lower on the day, trading at $291.07.
Cadence has qualified its full electronic design automation (EDA) flow to run natively on AWS Graviton. This move enables scalable Arm-based cloud computing for chip design, from the initial stages through signoff. The company said artificial intelligence is transforming chip design, requiring supporting infrastructure to evolve as well.
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RSI at 30.9 is nearing oversold territory, an early indication that the decline may be getting stretched. Shares of Cadence Design Systems remain capped below their MA-20, MA-50, and MA-200, with the overall daily structure staying bearish. The nearest support level is the weekly low at $288.21, which is now in focus as the price tests its downside. These technical factors underline a muted response within an ongoing bearish trend.
A close above $313.03 would show that buyers are willing to follow through on the event, while a drop below $288.21 would show the move is being faded. RSI nearing oversold suggests selling pressure has pushed the stock close to levels where downside could be limited. Over the coming trading week, downside probability is more than 80% versus less than 20% on the upside, and the expected trading range is $279.97 to $302.16. Although there was a sharp move lower over the past week without a sustained trend, the longer-term picture on the weekly chart stays firmly negative.
Earlier, analysts noted that Cadence Design Systems remained technically pressured despite advancements in PCIe 6.0 compliance, with downside risk prevailing. The latest qualification of Cadence's EDA flow for AWS Graviton adds a new dimension to its technological capabilities, but the ongoing bearish setup keeps $288.21 as the nearest key level to watch in the days ahead.