Cadence Design (CDNS) shares are consolidating into a tight coiled flag pattern at the top end of monthly value and held multiple tests of its 21 EMA this week while making higher highs. CDNS can breakout to fresh highs with a close above 234 and first target would be 242 as the former high from last month while an extended target likely can see 250 as a round number and extension of the recent range. CDNS has earnings nearing on 7/24 but still two weeks away.