The Greedy Trader Weekly Analysis
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Weekly Pattern:Ascending Triangle
Number of records: 1
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Chart Analysis and Chart Pattern Recognition – Ascending Triangle Pattern

The ascending triangle pattern is a variation of symmetrical triangle formation that has a flat resistance line and a rising support line. The higher lows indicate the increasing demand and give the ascending triangle definitive bullish bias. The ascending triangle usually represents an accumulation stage in bullish market. The ascending triangle is considered as a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Volume usually increases on a breakout move. After breakout (similar to rectangle), resistance may turn into potential support and vice versa.
Ascending Triangle Screening page presents a list of stocks forming an Ascending Triangle Pattern.
Tips:
# 1As a continuation pattern, an ascending triangle usually appears within a young trend, characterized by neutral long-term indicators and overbought short-term indicators. An ascending triangle resets short-term indicators to neutral and then continues the movement in parent's direction.
# 2 As a reversal formation, an ascending triangle appears in a mature downtrend, characterized by oversold short-term and long-term indicators. This situation usually generates bullish divergence on long-term indicators.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.

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- 4/19/2024 -
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ANSYS Inc. (ANSS) Technical Analysis

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Summary:
Weekly :Weekly  MACD line has moved below its signal linePrice is near the Fibonacci 23.6% retracement levelPrice is near the Fibonacci 38.2% retracement level
Daily :Relative Strength Index and Williams' Percentage Range oversoldLane's Stochastic is strongly oversold
Move cursor over the icon to see details.

It was the negative week for the ANSYS Inc. (ANSS). During the week, the ANSS dropped -12.09 points, or -3.62%, and closed at 322.11 on Friday, April 19, 2024. It was the worst weekly loss since February 16, 2024. Weekly volume was -50% 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. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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. Price is near the Fibonacci 38.2% retracement level.

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

During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 320.32 on April 19, 2024. ANSS lost 34.02 points, or 9.60%, in 23 days. The price is now at the 5.26% retracement level.

Daily Technical Indicators: [See ANSS daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index and Williams' Percentage Range or strongly oversold daily Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The daily MACD line is below its signal line since April 3, 2024. This is an indication that the short-term trend is down.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 13.91
Oversold
Williams' Percentage Range (W%R) 83.70
Oversold
Lane's Stochastic (%D-Slow) 4.04
Strong Oversold
Greed/Fear Indicator (GFI) 11.42
Oversold
Moving Average Converg./Diverg. (MACD) -1.20
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.85
Williams' Percentage Range (W%R) 43.40
Lane's Stochastic (%D-Slow) 56.08
Greed/Fear Indicator (GFI) 52.73
Moving Average Converg./Diverg. (MACD) 8.81
Trading Signals
Description Value Chart
Upper Bollinger Band 353.41
20 Day Moving Average 339.72
Weekly Stochastic Crossing 339.45
50 Day Moving Average 337.33
Parabolic System 334.10
Price 322.11
Daily Stochastic Crossing 321.21
Lower Bollinger Band 317.15
Sector and Industry
Description Name Rank
Sector Information Technology 5
Industry Application Software 35
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 354.34
High Date 03/27/2024
Low 320.32
Low Date 04/19/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 321.45
Low Date 02/21/2024
High 354.34
High Date 03/27/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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 Uptrend
Status
Resistance
Support
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.