The Greedy Trader Weekly Analysis
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Application Software Industry Stocks Technical Analysis - ANSS

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- 3/15/2024 -
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ANSYS Inc. (ANSS) Technical Analysis

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Summary:
Weekly :Overbought sectorPrice is near the Fibonacci 23.6% retracement level
Daily :Daily  MACD line has moved below its signal lineThe 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 -7.23 points, or -2.16%, and closed at 327.88 on Friday, March 15, 2024. Weekly volume was -30% below average.

ANSS is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

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. The price is now at the 34.27% retracement level.

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

The weekly MACD line is above its signal line since December 15, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 February 22, 2024 at 352.97 and reached 326.20 on March 15, 2024. ANSS lost 26.77 points, or 7.58%, in 22 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 below its signal line. Such crossover is considered a bearish signal.

The distance between the Bollinger Bands (5.2%) is close to one year low (5.43%). It is 59.12% 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) 42.26
Williams' Percentage Range (W%R) 76.50
Lane's Stochastic (%D-Slow) 30.85
Greed/Fear Indicator (GFI) 32.20
Moving Average Converg./Diverg. (MACD) -0.04
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.90
Williams' Percentage Range (W%R) 33.40
Lane's Stochastic (%D-Slow) 45.29
Greed/Fear Indicator (GFI) 55.72
Moving Average Converg./Diverg. (MACD) 7.95
Trading Signals
Description Value Chart
Parabolic System 345.96
Upper Bollinger Band 342.52
50 Day Moving Average 336.82
20 Day Moving Average 334.46
Weekly Stochastic Crossing 334.45
Daily Stochastic Crossing 330.35
Price 327.88
Lower Bollinger Band 325.47
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry Application Software 60
Daily Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
High 352.97
High Date 02/22/2024
Low 326.20
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 364.31
High Date 12/29/2023
Low 321.45
Low Date 02/21/2024
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.