ATCTA

$AZPN AZPN Aspen Technology Hyperwave in a Phase 5

NASDAQ:AZPN   ASPEN TECHNOLOGY INC
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Hello all, putting up another Hyperwave chart, this one I found while going through Russel index one by one and luckily found it early as I was looking alphabetically... Although it is not a macro global type of company that I'm aware of, the structure is clearly in a very clean Hyperwave. One thing to note is if you go back far enough price was above the Phase 1, but it reset, which Hyperwaves can do and it stayed below the Phase 1 for many many years before developing into the current HW. We will watch for the 6 closely, and trade it with a bullish bias and be on the lookout in the future for a 7, that will break whatever new weekly trend breaks the future 6. Right now it is tough to play because it has fallen already, could go further, could stall, safest to wait until clean Phase 6 appears and then trade bullishly. If holding, DO NOT SELL YET, wait for 6 to develop and then get out but keep in mind Phase 6 will never reach the peak of Phase 4.
Nov 15
Comment: Inverted hammer appears to be developing on this current weekly candle as well as being rejected out of the cloud top on ichimoku. Combine this with the rejected off of the Phase 4 on the IXIC/NDX/QQQ and it looks like we are heading into a Phase 6 very soon. Bullish bias in the Phase 6
Nov 28
Comment: Today saw a very large 6.95% move on Wednesday 11/28. If you look at the weekly chart with ichimoku cloud standard settings the setup is very bullish. Two weeks ago we closed inside the cloud on the weekly chart, last week saw the wick go down through the cloud and touch the bottom of the cloud for support before reversing for a red close on the week. This week is strong green candle breakout through the top of the cloud, and through the Phase 5 line. If we close above 83.75-84 we should be well on our way into the Phase 6 of the Hyperwave. This is bullish biased trading particularly if a strong Phase 6 line is established in a few weeks, buy near the Phase line and sell if far away from it using other technical tools. Remember most importantly, the high of Phase 6 will NEVER REACH the PEAK of phase 4. The top is in at 118.86.

TLDR - Lets watch how it develops and using other technical tools trade around the phase line bullish bias for the next few weeks. Still depends on the close this week, gut feeling says we are going to move into a Phase 6 & weekly close will confirm above $84
Dec 01
Comment: Phase 6 of AZPN hyperwave is active. bullish bias until future trend line is established and eventually breaks. Peak of Phase 6 will never reach the Peak of phase 4
Dec 21
Comment: Phase 3, tried to hold but it did not, and will most likely return all the way to below P1
Mar 06
Comment: Was Faked Out on the bounce during late Nov early Dec, Phase 5 continued until December 26, now huge Phase 6, looks to be getting over extended and has been rejected twice now in the 104-102 range, will watch closely to determine where a P6 line might be, before eventually going back to Phase 1 once P7 begins
Possibly entering a Phase 6 soon, could just chop in this range from 80-90 or so wait for clean break close above phase 5 line before looking to get long. Remember Phase 6 never returns to the high of Phase 4. use that as a small guide in the back of your mind when looking at upside targets
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@ATCTA, And by close I mean a weekly close and then wait to see how it reacts to confirm break from Phase 5
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Excellent find Jay.
And spot on analysis.
Thank you.

THE_UNWIND
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