Aspen Technology Stock Forecast
Aspen Technology stock price ended at $195.04 on Tuesday, after losing 1.43%.
(Updated on Jul 02, 2024)
The Aspen Technology stock price fell by -1.43% on the last day (Tuesday, 2nd Jul 2024) from $197.87 to $195.04. During the last trading day the stock fluctuated 2.92% from a day low at $194.59 to a day high of $200.27. The price has been going up and down for this period, and there has been a -0.59% loss for the last 2 weeks. 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 -9 thousand shares and in total, 129 thousand shares were bought and sold for approximately $25.20 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.06% during the next 3 months and, with a 90% probability hold a price between $178.91 and $211.92 at the end of this 3-month period.
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AZPN Signals & Forecast
There are mixed signals in the stock today. The Aspen Technology stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $196.75 and $206.48. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 2.45%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Aspen Technology stock
Aspen Technology finds support from accumulated volume at $193.90 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $5.68 between high and low, or 2.92%. For the last week, the stock has had daily average volatility of 2.68%.
Our recommended stop-loss: $184.02 (-5.65%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (AZPN) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Aspen Technology to open at $196.63, and during the day (based on 14 day Average True Range), to move between $189.82 and $200.26, which gives a possible trading interval of +/-$5.22 (+/-2.68%) up or down from last closing price. If Aspen Technology takes out the full calculated possible swing range there will be an estimated 5.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $193.90 (0.58%) than the resistance at $197.79 (1.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Aspen Technology stock A Buy?
Aspen Technology holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.727 Hold/Accumulate Unchanged
Predicted Opening Price for Aspen Technology of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $196.63 ( 0.82%) | $195.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AZPN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 202.31 | 3.73% |
| R2 | 200.14 | 2.62% |
| R1 | 198.80 | 1.93% |
| Price | 195.04 | |
| S1 | 194.46 | -0.296% |
| S2 | 193.12 | -0.98% |
| S3 | 190.95 | -2.10% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 221.30 | 13.46% |
| R2 | 205.94 | 5.59% |
| R1 | 197.79 | 1.41% |
| Price | 195.04 | |
| S1 | 193.90 | -0.584% |
| S2 | 190.37 | -2.39% |
| S3 | 188.77 | -3.21% |
AZPN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | May 16, 2024 | $0 | 0% |
| 2 | Feb 15, 2024 | Feb 15, 2024 | Feb 15, 2024 | $0.525 | 0.290% |
FAQ
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