ANSS climbs to highest close since March 26th


ANSYS (ANSS) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
ANSS runs into sellers around 160.21 for the third day in a row
ANSS closes above its opening price after recovering from early selling pressure
ANSS finds buyers at key support level
ANSS pushes through 20-day moving average
ANSS ends the day on a bullish note closing near the high of the day
TQ Sentiment
Report Sentiment: 62% Bullish
Technical Forecast:
Overview

ANSS ended Monday at 159.99 gaining $3.01 (1.92%). Today's closing price of 159.99 marks the highest close since March 26th. Trading up to $1.35 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Friday's high at 159.62, ANSYS confirms its breakout through the prior session's high having traded $0.59 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for ANSS
Volatility

Monday's trading range was $3.21 (2.03%), that's below last trading month's daily average range of $4.13. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Support/Resistance

After trading as low as 157.00 during the day, the stock bounced off the key support level at 157.95. The failure to close below the support might increase that levels importance as support going forward. The market ran into sellers again today around 160.21 for the third trading day in a row after having found sellers at 159.62 in the previous session and at 159.75 two days ago.

Trend

ANSS shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The share managed to break above the 20-day moving average at 158.55 today for the first time since March 2nd.

Order Flow

Selling could accelerate should prices move below the nearby swing low at 156.22 where further sell stops might get triggered. As prices are trading close to April's high at 160.37, upside momentum could speed up should ANSYS mark new highs for the month.

Conclusion

While classical technical analysis indicates a slightly bullish sentiment for the next trading day, our quantitative statistics show a different picture being neutral.

Market Conditions for ANSYS
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Harami Candle TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
High close to previous High TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bearish Spinning Top TQ Pro Members Only
More market conditions identified for TQ Pro members...
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