Like AZPN short based on the first test retrace from below back to the 200 SMA. Stop is close above recent daily high. Should gain momentum below 201, which is the key level to take out. Target is 500 SMA. Half profits at halfway.
This is a nice setup for a short in one of the leftovers of last year's rally. Pattern is pretty much the same, bit of a squeeze now that the market has been rallying after the top, but weaker than many other names. Now we use this squeeze to get in short following the levels here presented with Red line SL, black entry level (give or take for you), Green line TP 1 & 2. GL
$AZPN is showing great strength and is a rare leader in Tech. A breakout above $194 Pivot looks positive. Nice Consolidation and strong action in the name. Ideally I would like consolidation right below the Pivot before entry.
$AZPN Breakout in 1h Chart on above average volume after consolidation phase - Target 217$
All Entry Criteria have been met:
1. Price above 10, 20 & 50 EMA --> Check
2. Consolidation Phase in Uptrend --> Check
3. Breakout on above average Volume --> Check
Considering Q3 results AZPN looks STRONG especially against WEX.
AZPN
FY 2022 Guidance: Annual spend growth of 7-8% year-over-year
Free cash flow of at least $285 million
Total bookings of $814 to $840 million
Total revenue of $737 to $754 million
In the case of AZPN, 6 of my algorithms signaled a SELL on April 6, 2021. Equities nearly always obey the signal and move down, but sometimes it may continue to move up first. All algorithms in the current instance are signaling overbought.
I have placed two red boxes and two green boxes on the chart. The larger red box depicts all of the historical movement,...
AZPN idea
can buy once Breakout trendline
Disclaimer: If you choose to follow this trading idea you do so at your own risk after giving thorough and reasonable thought and consideration to your actions. All trading is high risk and one of the most difficult activities you will ever consider. Don’t trade with money you can’t afford to lose.
The PEAD projected a bullish outlook for $AZPN after a negative over reaction following its earnings release placing the stock in Drift C
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- The market broke with power . the line which served as support for the bullish trend . which became resistance after the small correction of
March 9.
- the market is always bullish . But he's starting to lose a bit of his strength. if it ever breaks (135.46) there is a probability that it will go towards
around (149.40).
- But for the moment the probability that...
Sell Short: Aspen Technology Inc - Ticker: AZPN - Sector: Technology Industry: Software—Application
Go to the Invest2Success Advisory Page and Also for USA Asia Financial Forecasts
Sell Entry: 104.90 to 103.23
Stop-Loss: Available to Subscribers
Take Profit Price Targets: Available to Subscribers
$AZPN #aspentechnology $HON #honeywell $SAP #sap $ABB #abb...
2 Stop Loss positions, depending on your risk tolerance. Earnings Release created a large Gap Trade Opportunity. Stop losses at $112.60 or $110 - Profit at $140.
