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.
You may want to look into rambus rulings coming down from the bench shortly which could propell the stock into the 30s