Roper Technologies (NASDAQ:ROP) Roper Technologies, Inc. is a diversified technology company, which engages in the provision of engineered products and solutions for global niche markets. It operates through the following segments: Application Software, Network Software, and Technology Enabled Products. The Application Software segment includes Aderant, CBORD/Horizon, CliniSys, Data Innovations, Deltek, Frontline Education, IntelliTrans, PowerPlan, Strata, and Vertafore. The company was founded by George D. Roper on December 17, 1981, and is headquartered in Sarasota, FL.
Will ROP Stock Fly Above $510?
ROP stock price is sustaining the gains beyond the round mark of $500 and rebounded in the past few sessions. Furthermore, the price action indicates that ROP stock surpassed significant moving averages which implies that buyers are showing increasing interest. Moreover, the stock is trading in the bullish trajectory and showcased the range breakout.
At press time, ROP stock price is trading at $507.06 with an intraday gain of 0.77%, showing neutrality on the charts. Moreover, the trading volume increased by 0.57% to 468.890K while the market cap is $54.165 Billion. Furthermore, analysts have maintained a buy rating with a yearly target price of $549.93 suggesting a growth outlook.
ROP Stock Price Prediction 2023
On the daily charts, ROP stock price is trading beyond the round mark of $500 and surpassed the round mark of $500. Furthermore, the stock is gaining momentum and is trading above the significant moving averages. Moreover, the chart shows bullish dominance and suggests the stock may reach the highs of $580 over the next weeks.
The RSI curve stayed above the neutrality and showed a bullish divergence, suggesting the bullish outlook for the upcoming sessions. The MACD with its green bars on the histogram also suggests a positive outlook.
If bulls continue to dominate, ROP stock will outperform and has the potential to reach the maximum of $590 followed by $620.
ROP Stock Price Prediction 2024
On the monthly chart, ROP stock has made a V shaped recovery as buyers are trying to extend the gains beyond the trajectory hurdle of $510. If bulls succeed in escaping the resistance mark of $520, ROP stock will outperform and reach the highs of $600 by 2024. Moreover, the stock is trading above the 50% Fibonacci retracement zone and is above the mid bollinger band.
The stock is trading near the breakout zone and soon may reach the bluesky zone above the immediate hurdle of $530. Afterwards, stock will lead a sharp rise and will catch the higher zone of $620 followed by $650.
Conversely, if the stock fails to extend the gains beyond the immediate hurdle of $520, bears will trigger the selloff and will retest the demand zone of $450 followed by $400 soon.
ROP Stock Price Prediction 2025
On the 6 months charts, ROP stock showed an uptrend and has persisted in attaining the gains. Furthermore, the stock has surpassed the significant moving averages and is close to the breakout zone of $510. Price action shows long build up activity and that buyers are keen to extend gains.
Besides this, sellers were in trouble and are covering their short positions which give stock a pace resulting in outperformance for the past sessions.
ROP stock has a potential to reach the maximum of $650 followed by $700 in the next few years. Conversely, if the stock loses the gains below the trajectory swing of $450, it could go toward the lows of $350.
Summary
ROP stock price has regained the momentum and is trying to register a much awaited breakout beyond the immediate hurdle of $520. Furthermore, the stock is approaching the bullish trajectory and is likely to attain follow on buying and will continue to extend the gains. However, the bulls need to surpass the supply zone of $520, above that stock will reach the bluesky zone soon.
Technical Levels
Support Levels: $500 and $485
Resistance Levels: $540 and $570
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/11/09/rop-stock-price-prediction-2023-2024-2025-will-rop-shoot-above-500/