Synopsys Inc. (SNPS) — This global electronic design automation software has been relatively stable in the bear market for a high-tech stock.

On Feb. 6 the Trade of the Day said, “It fell from more than $28 to less than $13 but turned sharply higher in late November and has traced a bullish cup-and-handle formation with a recent buy signal from the stochastic.”

“This is a tech stock that could be added to both trading and long-term portfolios with an initial target of $23.”

With the successful breakout from the cu-and-handle, the trading objective is raised to $25.

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Sam Collins is a registered, fee-based portfolio manager who may be contacted samailc@cox.net. You can also check out an archive of some of his most recent market outlooks by clicking here.