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. 

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