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Aspen Technology (
AZPN) supplies process optimization software that allows manufacturers to implement best practices for optimizing their engineering, manufacturing and supply chains. This stock is trading up 3.5% at $28.54 in recent trading.
Today's Volume: 1.17 million
Average Volume: 528,256
Volume % Change: 225%
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From a technical perspective, AZPN is jumping higher here right above its 200-day moving average at $27.21 with heavy upside volume. This stock recently dropped sharply from $32.67 to around $26.50 with heavy downside volume. Shares of AZPN are now rebounding off its recent low and quickly moving within range of triggering a near-term breakout trade. That trade will hit if AZPN manages to clear some near-term overhead resistance at around $29.55 with high volume.
Traders should now look for long-biased trades in AZPN as long as it's trending above its 200-day at $27.21 and then once it sustains a move or close above $29.55 with volume that hits near or above 528,256 shares. If that breakout triggers soon, then AZPN will set up to re-test or possibly take out its next major overhead resistance level at its 50-day moving average of $30.76.