The Greedy Trader Weekly Analysis
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Weekly Price vs. Fibonacci:Near 38.2% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 5/10/2024 -
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ANSYS Inc. (ANSS) Technical Analysis

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Summary:
Weekly :Broken trend support line
Daily :Daily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger BandsThe Bollinger Bands are historically close together
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It was a first positive week for the ANSYS Inc. (ANSS). During the week, the ANSS gained 8.73 points, or 2.73%, and closed at 328.25 on Friday, May 10, 2024. Weekly volume was -53% below average.

Long-term trend: [See ANSS long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 194.23 and reached 364.31 on December 29, 2023. ANSS gained -170.08 points, or -87.57%, in 63 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 289.30 and resistance is at 374.75. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.

Medium-term trend: [See ANSS medium-term trend chart]
A medium-term uptrend had started on November 2, 2023 at 258.01 and reached 364.31 on December 29, 2023. ANSS gained -106.30 points, or -41.20%, in 8 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (369.46) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

Weekly Technical Indicators: [See ANSS weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since April 12, 2024. Use the following link to access a MACD help.

Short-term trend: [See ANSS short-term trend chart]
A short-term downtrend had started on March 27, 2024 at 354.34 and reached 308.03 on May 2, 2024. ANSS lost 46.31 points, or 13.07%, in 36 days. The chart has formed a Broadening Descending Wedge chart pattern.

Daily Technical Indicators: [See ANSS daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (4.89%) is close to one year low (5.20%). It is 60.97% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.83
Williams' Percentage Range (W%R) 32.40
Lane's Stochastic (%D-Slow) 67.80
Greed/Fear Indicator (GFI) 63.08
Moving Average Converg./Diverg. (MACD) -3.60
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.24
Williams' Percentage Range (W%R) 51.20
Lane's Stochastic (%D-Slow) 29.73
Greed/Fear Indicator (GFI) 42.70
Moving Average Converg./Diverg. (MACD) 7.31
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 374.75
Monthly Trendline Support 369.46
Monthly Trendline Resistance 349.19
Upper Bollinger Band 335.56
50 Day Moving Average 334.42
Price 328.25
20 Day Moving Average 325.34
Daily Stochastic Crossing 324.92
Lower Bollinger Band 319.53
Weekly Stochastic Crossing 318.54
Parabolic System 309.92
Quarterly Trendline Support 289.30
Sector and Industry
Description Name Rank
Sector Information Technology 4
Industry Application Software 33
Daily Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
High 354.34
High Date 03/27/2024
Low 308.03
Low Date 05/02/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 364.31
High Date 12/29/2023
Low 308.03
Low Date 05/02/2024
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 349.19
Support 369.46
Low 258.01
Low Date 11/02/2023
High 364.31
High Date 12/29/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 374.75
Support 289.30
Low 194.23
Low Date 10/13/2022
High 364.31
High Date 12/29/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 413.89
High Date 11/05/2021
Low 194.23
Low Date 10/13/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.