Ansys (ANSS) stock jumped today reports that the maker of engineering simulation software might be a takeover target.
Bloomberg reported late Thursday that Ansys is weighing its options, including a sale, after getting takeover interest.
On Friday afternoon, the Wall Street Journal said Synopsys ( NASDAQ:SNPS ) was in talks to acquire Ansys. The Journal said...
This company is a juggernaut of IP/ software/ Big Cap Tech & manufacturing clients
Buying anywhere near $270 or less will be profitable in a year or two
Ansys seems to be forming a head and shoulders top.
Left shoulder - 31st March 2023
Head - 18-19th July 2023
Right Shoulder - 6th Sept 2023
Volume details for the key areas (in '000)
i) Left shoulder
15th Feb to 31st March 2023 622.89
7 days leading upto 31st March 2023 550.04
ii) Head
4th May to 19th July 2023 457.50
7 days...
Entry: when price clears 333.89
Volume: with daily volume greater than 727k
Target: 386 area
Stop: Depending on your risk tolerance; 316.55 gets you 3/1 Risk/Reward.
Resistance: 347 area, 373 area
This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while...
The stock is caught within a Fibonacci trap and has got some momentum today to test the bottom of the cage. As the stock is in overbought condition this test may get more momentum an fall through. We will probably not close the big open February window but a retest of the June lows seems possible without stop. Okay, a breath at the March high is possible.
We have seen an outbreak within the trend last week and a test to the downside yesterday. The jump down today has been bought immediately. This indicates a still strong sentiment for this stock.
Enter when price clears 332.80
With daily volume greater than 727k
Target: 356.5 area
Depending on your risk tolerance: 326.35 gets you 3/1 Risk/Reward
Ansys, Inc. is an American company based in Canonsburg, Pennsylvania. It develops and markets CAE/multiphysics engineering simulation software for product design, testing and operation and offers its products and services to customers worldwide.
Opening positions under $220 and attempting to hold for $300
Despite already falling 50%, ANSS has merely reversed the blow-off top caused by the 2020 melt-up. The symmetric top is nearly complete. I expect a break will initiate a move to the March 2020 low around the $130s.
Catalyst will be the major indexes breaking to new lows, initiating the first capitulation selling wave of this bear market.
$ANSS software name with a big base that's looking fantastic.
I am displaying Accum/Dist line below volume instead of my regular OBV. OBV diverging with price Acc/Dist conversion and sitting right below highs.
One to keep eyes on with it holding up this well.
