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Aspen Technology Set to Possibly Rebound After Yesterday's Selloff of 1.06%

By Amy Schwartz

Aspen Technology (NASDAQ:AZPN) traded in a range yesterday that spanned from a low of $122.44 to a high of $124.22. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $122.55 on volume of 98,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Aspen Technology share prices have moved between a 52-week high of $127.00 and a 52-week low of $74.84 and are now trading 64% above that low price at $122.94 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Aspen Technology on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $84.51. Since that recommendation, shares of Aspen Technology have risen 46.4%. We continue to monitor AZPN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders aspen technology

Ticker(s): AZPN