The Greedy Trader Weekly Analysis
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Yearly Price vs. Trendline:Broken Resistance
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Trend Line Resistance Trend Line Support Resistance.

Trendline support resistance provides an excellent buy/sell signals in trending market. On an uptrend, buy around the support trend line level and place a stop order below the trend line support. Take profit on the trend line resistance level. Reverse the technique in a downtrend. Short around the resistance trend line level and place a stop order above the trend line resistance.

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- 5/31/2024 -
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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 below its signal lineThe price has fallen below the Parabolic SARThe price is below the lower Bollinger BandThe Bollinger Bands are historically close together
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It was the negative week for the ANSYS Inc. (ANSS). During the week, the ANSS dropped -13.66 points, or -4.13%, and closed at 317.45 on Friday, May 31, 2024. Weekly volume was -13% 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 292.67 and resistance is at 376.36. 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 (381.46) 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 price is now at the 20.34% retracement level.

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

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 fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The distance between the Bollinger Bands (4.55%) is close to one year low (4.69%). It is 62.63% 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) 32.27
Williams' Percentage Range (W%R) 64.00
Lane's Stochastic (%D-Slow) 25.91
Greed/Fear Indicator (GFI) 31.38
Moving Average Converg./Diverg. (MACD) -1.32
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.79
Williams' Percentage Range (W%R) 75.00
Lane's Stochastic (%D-Slow) 34.76
Greed/Fear Indicator (GFI) 34.73
Moving Average Converg./Diverg. (MACD) 5.54
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 376.36
Monthly Trendline Resistance 346.86
Parabolic System 333.52
Upper Bollinger Band 333.12
50 Day Moving Average 331.80
20 Day Moving Average 325.83
Weekly Stochastic Crossing 323.50
Lower Bollinger Band 318.69
Price 317.45
Daily Stochastic Crossing 316.03
Quarterly Trendline Support 292.67
Sector and Industry
Description Name Rank
Sector Information Technology 4
Industry Application Software 29
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
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 346.86
Support 381.46
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 376.36
Support 292.67
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.