The Barchart Chart of the Day belongs to the computer software company Aspen Technology (AZPN). I found the stock by using Barchart to sort today's New 52 Week High list by the most frequent number of new hihgs in the last month, then I used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 8/6 the stock gained 11.83%.
Aspen Technology Inc. is a recognized expert and leading provider of award-winning assett optimization software and services. AspenTech's integrated aspenONE solutions enable manufacturers to reduce costs, increase capacity, and optimize operational performance end-to-end throughout the engineering, plant operations, and supply chain management processes, resulting in millions of dollars in cost savings.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart technical indicators:
- 56% technical buy signals
- 81.90+ Weighted Alpha
- 78.91% gain in the last year
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 15 new highs and up 5.89% in the last month
- Relative Strength Index 56.99%
- Technical support level at 112.31
- Recently traded at 114.02 with a 50 day moving average of 105.89
Fundamental factors:
- Market Cap $8.42 billion
- P/E 57.44
- Revenue expected to grow 11.30% this year and another 6.80% next year
- Earnings estimated to increase 40.70% this year, an additional 8.90% next year and continue to compound at an annual rate of 1.70% for the next 5 years
- Wall Street analysts issued 3 strong buy, 3 hold and 2 sell recommendations on the stock
