AZPN (Aspen Technology) has broken down from the large bearish rising wedge pattern & appears likely to be headed to the 48.20 area in time although best to wait for either a backtest of the wedge or a break of the 53.45 level as that is minor support which could produce a reaction. I’m only sharing this as a potential but not yet official trade idea as with the broad markets trading sideways over the last two months which causes an increased rate of false breakouts, I’m being extra selective on opening new positions at this time. However, I did want to get the chart out in advance should I suddenly decide to add Aspen as an official trade.
AZPN daily Jan 27th