Aspen Technology Forecast and Stock Analysis
Technical AZPN stock analysis for February 21, 2019.
Aspen Technology fell by -0.12% in the last day from $99.76 to $99.64 The price has been going up and down for this period, and there has been a 0.96% gain for the last 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -124 540 shares and in total 275 649 shares bought and sold for approximately $27.47 million.
Close price at the end of the last trading day (Thursday, 21st Feb 2019) of the AZPN stock was $99.64. This is 0.12% less than the trading day before Wednesday, 20th Feb 2019.
During day the stock fluctuated 1.55% from a day low at $98.69 to a day high of $100.22.
30 day high of the AZPN stock price was $103.49 and low was $88.41.
90 day high was $103.49 and low was $75.01.
52 week high for the Aspen Technology - $118.86 and low - $74.84.
Aspen Technology lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 25.62% during the next 3 months and, with 90% probability hold a price between $112.74 and $135.53 at the end of this period.
Aspen Technology holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $99.42 and $93.50. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Friday February 15, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 63 and the stock is currently not being overbought or oversold
Support & Resistance
Aspen Technology finds support from accumulated volume at $98.79.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.53 (1.55%) between high and low. For the last week, the stock has had a daily average volatility of 1.65%.
Our recommended stoploss: $95.48 (-4.18%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 3 days ago.)
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Evaluation: Buy Candidate
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term.