The stock is likely to consolidate in the upcoming sessions.

Fundamentals on Progress Software Corporation remain week. The company is worth 36.59 times estimated earnings. The valuation level of the group isn't justified. Analysts revised downwards the EPS of the group and it announces important falls to come in terms of profitability. Moreover, the stock price is higher than the average target price set by analysts.

Technically, after several weeks of bullish fluctuations, the stock is now close to the USD 27.6 daily and weekly resistance. This threshold is likely to block the current trend, and stimulate a bearish movement.

Most offensive investors could open short positions on Progress Software Corporation close to USD 27.62. The target being set at USD 26.2, a stop loss should be placed above the current resistance.