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Aspen Technology: The Winning Streak Continues (AZPN)

By Amy Schwartz

Aspen Technology (NASDAQ:AZPN) traded at a new 52-week high today of $84.48. So far today approximately 70,000 shares have been exchanged, as compared to an average 30-day volume of 615,000 shares.

Aspen Technology (NASDAQ:AZPN) defies analysts with a current price ($84.19) 7.7% above its average consensus price target of $77.71. Aspen Technology shares have support at the 200-day moving average (MA) of $38.03 and additional support at the 50-day MA of $35.68.

Over the past year, Aspen Technology has traded in a range of $37.39 to $84.48 and is now at $84.19, 125% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.1%.

Aspen Technology, Inc. supplies process optimization software products and services. The Company's customers are in energy, chemicals, engineering and construction, and other industries that manufacture and produce products from a chemical process. Aspen Technology customers use the products to design and run their plants and manage their supply chains.

SmarTrend recommended that subscribers consider buying shares of Aspen Technology on February 16th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $76.43. Since that recommendation, shares of Aspen Technology have risen 9.3%. We continue to monitor AZPN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows aspen technology

Ticker(s): AZPN