• Return to Headlines

Watch for Continued Gains in Shares of Aspen Technology (AZPN)

By Shiri Gupta

Shares of Aspen Technology (NASDAQ:AZPN) traded at a new 52-week high today of $98.96. Approximately 62,000 shares have changed hands today, as compared to an average 30-day volume of 405,000 shares.

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.

Over the past year, Aspen Technology has traded in a range of $53.51 to $98.96 and is now at $98.82, 85% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 1.3%.

Based on a current price of $98.82, Aspen Technology is currently 13.8% above its average consensus analyst price target of $85.14. The stock should find initial support at its 50-day moving average (MA) of $89.78 and further support at its 200-day MA of $74.96.

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 $76.44. Since that recommendation, shares of Aspen Technology have risen 28.7%. 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