Roper Technologies (ROP) Resuming March Advance

Conclusion, Investment Implications, Strategy

Roper Technologies (ROP) appears to be resuming its March advance following a 17% correction from the mid August highs. A sustained rise above the $375.00 area would help confirm this and target a 14% rise to $455.72. This is an Asbury Value idea.

Analysis and Rationale

Roper Technologies, Inc. (ROP) designs and develops software, and engineered products and solutions worldwide. It offers management, campus solutions, laboratory information management, enterprise management, information solutions, transportation management, financial and compliance management, cloud-based financial analytics and performance management, and diagnostic and laboratory information system software; and software, services, and technologies for foodservice operations. The company also provides cloud-based data, collaboration, and estimating automation software; visual effects and 3D content software; electronic marketplace; wireless sensor network and solutions; cloud-based software solutions; supply chain software; health care service and software; RFID card readers; data analytics and information; pharmacies software solutions; and toll system and products, transaction and violation processing services, and intelligent traffic systems. The company was formerly known as Roper Industries, Inc. and changed its name to Roper Technologies, Inc. in April 2015. Roper Technologies, Inc. was incorporated in 1981 and is based in Sarasota, Florida.

Chart 1 below plots ROP daily since January, highlighting its late September test of major underlying support at its 200-day moving average following a 17% corrective decline from the Aug 13th high. Not shown is that a number of market internals are starting to improve as ROP has been testing this major support, currently at $375.06, over the past week.

A sustained rise above the $375.00 area would target a retest of $455.72.

Chart 1

Table 1 below shows that considering the aforementioned upside target and a protective stop placed below the $380.07 area, a long entry price of $399.03 would provide a 1:3.0 risk/reward ratio (risking $1.00 to make $3.00) with an initial risk of 4.8%.

Table 1

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Please consult the table showing our Asbury 6 key market metrics to help determine if this investment is suitable for you.

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Roper Technologies (ROP) Resuming March Advance

Conclusion, Investment Implications, Strategy

Analysis and Rationale

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Roper Technologies (ROP) Resuming March Advance

Conclusion, Investment Implications, Strategy

Analysis and Rationale

Asbury Research

Asbury Research subscribers get more detail on our latest analysis, and updates to our quantitative models

Schedule A 15-Minute Zoom Meeting With Us To Get More Information >>>

Asbury Research subscribers get more detail on our latest analysis,
and updates to our quantitative models