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Possible Bearish Inside Day Candle Pattern Detected for Ansys Inc (NASDAQ:ANSS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ansys Inc (NASDAQ:ANSS) based on the price action in the company's shares. Yesterday's price range of $221.83 and $224.95 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Ansys Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

ANSYS, Inc. develops and markets engineering simulation software and services worldwide. The company offers ANSYS Workbench, a framework upon which the company's engineering simulation technologies are built; ANSYS multiphysics software to simulate the interactions between structures, heat transfer, fluids, and electronics in a unified engineering simulation environment; and structural analysis product suite that provides simulation tools for product design and optimization.

Based on a current price of $224.31, Ansys Inc is currently 30.0% above its average consensus analyst price target of $157.00. Ansys Inc shares have support at the 50-day moving average (MA) of $218.47 and additional support at the 200-day MA of $198.03.

In the past 52 weeks, Ansys Inc share prices have been bracketed by a low of $136.80 and a high of $229.12 and closed yesterday at $224.31, 64% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 0.5%.

SmarTrend is tracking the current trend status for Ansys Inc and will alert subscribers who have ANSS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle ansys inc

Ticker(s): ANSS