This company develops and globally markets engineering simulation software and technologies widely used by engineers and designers across a broad spectrum of industries, including aerospace, automotive, manufacturing, electronics, biomedical and defense. We think it is hitting support levels, and provides a long-term growth story that is still intact.
We will do a more formal write-up later, but for now we want to show you how we’re hitting support levels.
You might notice that:
- 42 has been a resistance level twice, and also a support level twice
- 40 is even more important as a resistance/support level, and it’s also where the 200 day moving average is heading, so we expect this to provide something of a trading opportunity, markets permitting.
Below you see the long-term uptrend:
It’s comforting to see that the 200 day moving average usually provides solid support. We do not see much reason why this should be otherwise now.