Is Autodesk Prepping For A Breakout?

Is Autodesk Prepping For A Breakout?


Autodesk Daily Chart.

The 200-day moving average for shares of Autodesk (NASDAQ:) remains supportive and is providing solid footing at this week’s low. ADSK is far from overbought (daily/MACD=neutral). Since the start of 2021 the stock has been consolidating in a narrowing range. As the week comes to an end shares are trading in the middle of that range. A close above $295.00 (multi-week May highs) could spark a fresh rally leg. It is one to watch next week. 

Note: We have no position. 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Leave a comment

Send a Comment

Your email address will not be published.

Enter text shown below: