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Application Software Industry Stocks Technical Analysis - ANSSArchive
- 9/6/2024 -
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ANSYS Inc. (ANSS) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was the negative week for the ANSYS Inc. (ANSS). During the week, the ANSS dropped -16.38 points, or -5.10%, and closed at 305.04 on Friday, September 6, 2024. Weekly volume was -33% 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 price is near the trend support (308.79) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.
 Medium-term trend: [See ANSS medium-term trend chart]
A medium-term downtrend had started on December 29, 2023 at 364.31 and reached 289.82 on August 5, 2024. ANSS lost 74.49 points, or 20.45%, in 31 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 283.44 and resistance is at 335.73. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern 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. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 August 22, 2024 at 334.51 and reached 304.15 on September 6, 2024. ANSS lost 30.36 points, or 9.08%, in 15 days. Price is near the trend low.
 Daily Technical Indicators: [See ANSS daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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 link to access Lane's Stochastic help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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