ANSS Price Prediction Next Week
Technical Analysis:
Based on the recent price action, ANSS has shown a downward trend in the past week, falling from $351.64 to $340.89. The RSI-14 reading of 39.96 indicates the stock is approaching oversold territory but hasn't reached extreme levels yet.
The stock is currently trading below its 5-day SMA ($337.78) and 10-day SMA ($339.05), suggesting short-term bearish momentum. However, it remains above the 200-day SMA ($329.18), maintaining a longer-term bullish trend.
Fibonacci Analysis:
- Resistance levels: R1: $346.95, R2: $351.77, R3: $359.56
- Support levels: S1: $331.36, S2: $326.54, S3: $318.74
- Current pivot point: $339.15
News Impact: Recent Q4 earnings report showed stronger-than-expected revenue of $882.2 million, beating consensus estimates. The stock responded positively to this news with a 1% gain in the following session.
Price Prediction for Next Week: Based on technical indicators and recent price action:
- Bearish scenario (60% probability): Stock likely to test S1 level at $331.36
- Base scenario (30% probability): Consolidation between $335-$340
- Bullish scenario (10% probability): Bounce towards R1 at $346.95
Trading Recommendation: SELL
- Entry point: Current market price ($340.89)
- Target: $331.36 (S1 level)
- Stop loss: $346.95 (R1 level)
Rationale:
- Weakening momentum shown by declining RSI
- Price trading below short-term moving averages
- Bearish price action with lower highs and lower lows
- Current price sitting at resistance level with more room to fall
ANSS Similar Chart Price Prediction
The price of ANSS is predicted to go up -0.7%, based on the high correlation periods with WWR. The similarity of these two price pattern on the periods is 94.07%.
ANSS
WWR
Down: -0.7%Similarity: 94.07%
ANSS Revenue Forecast
ANSS EPS Forecast
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ANSS VS S&P500
Ansys' increased go-to-market partnerships should improve margins even further as the strategy has little costs associated with the additional revenue, given the reliance on partners' salespeople.
Ansys should see an uptick in its top line from earlier adoption of predictive maintenance and digital twin technologies than expected.
Ansys' recent efforts to simplify the functionality of its complex software should allow the company to sell to less traditional simulation markets.
ANSS Analyst's Forecast
Joe Vruwink
Baird
Buy
2024-11-07
Price Target
$350 → $365
Upside
+3.98%
Baird raised the firm's price target on Ansys to $365 from $350 and keeps an Outperform rating on the shares. The firm views the report as a solid update against concerns on growth performance in FY24 as performance appears to be on track.
