Aspen Technology Stock Forecast

Aspen Technology stock price down 0.545% on Wednesday
(Updated on Apr 24, 2024)

AZPN Signals & Forecast

There are few to no technical positive signals at the moment. 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 $197.91 and $204.45. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -9.41%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Aspen Technology stock

Aspen Technology finds support from accumulated volume at $193.89 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 $2.90 between high and low, or 1.48%. For the last week, the stock has had daily average volatility of 2.09%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (AZPN) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Aspen Technology to open at $197.40, and during the day (based on 14 day Average True Range), to move between $192.15 and $202.07, which gives a possible trading interval of +/-$4.96 (+/-2.52%) up or down from last closing price. If Aspen Technology takes out the full calculated possible swing range there will be an estimated 5.03% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $199.87 (1.40%) than the support at $193.89 (1.63%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Aspen Technology stock A Buy?

The Aspen Technology stock holds several negative signals and despite the positive trend, we believe Aspen Technology will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.900 Sell Candidate Unchanged

Predicted Opening Price for Aspen Technology of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.