ANSYS Inc Stock Forecast
ANSYS Inc stock price fell more than -7.73% Monday closing at 300.20€
(Updated on Jun 24, 2024)
The ANSYS Inc stock price fell by -7.73% on the last day (Monday, 24th Jun 2024) from 325.35€ to 300.20€. During the last trading day the stock fluctuated 1.80% from a day low at 300.20€ to a day high of 305.60€. The price has fallen in 5 of the last 10 days and is down by -0.6% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 13 shares were bought and sold for approximately 3.90€ thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ANSYS Inc stock with a 90% probability to be traded between 286.90€ and 327.32€ at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AKX.F Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The ANSYS Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at 321.82€ and 315.30€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -8.31%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Friday, May 24, 2024 and based on theory for this formation the price should fall by -7.25% to 278.43€ within 7 trading days since signal was issued (Tuesday, June 04, 2024).
Support, Risk & Stop-loss for ANSYS Inc stock
ANSYS Inc finds support from accumulated volume at 297.60€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved 5.40€ between high and low, or 1.80%. For the last week the stock has had daily average volatility of 1.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AKX.F) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect ANSYS Inc to open at 302.00€, and during the day (based on 14 day Average True Range), to move between 287.30€ and 313.10€, which gives a possible trading interval of +/-12.90€ (+/-4.30%) up or down from last closing price. If ANSYS Inc takes out the full calculated possible swing range there will be an estimated 8.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 297.60€ (0.87%) than the resistance at 317.45€ (5.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ANSYS Inc stock A Buy?
ANSYS Inc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.131 Sell Candidate Downgraded
Predicted Opening Price for ANSYS Inc of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| 302.00€ ( 0.600%) | 300.20€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AKX.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 307.40 | 2.40% |
| R2 | 305.34 | 1.71% |
| R1 | 304.06 | 1.29% |
| Price | 300.20 | |
| S1 | 299.94 | -0.0875% |
| S2 | 298.66 | -0.512% |
| S3 | 296.60 | -1.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 329.88 | 9.89% |
| R2 | 325.35 | 8.38% |
| R1 | 317.45 | 5.75% |
| Price | 300.20 | |
| S1 | 297.60 | -0.87% |
| S2 | 295.90 | -1.43% |
| S3 | 293.60 | -2.20% |
FAQ
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