The Greedy Trader Weekly Analysis
Sign In Mar 22, 2024
Skip Navigation Links
TA Search
Monthly Pattern:Rising Channel
Number of records: 10
Share
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

Channeling Stock - rising channel and falling channel.

Stock channeling technique is one of the most efficient and widely used trading technique. Price channel represents price movement bound by parallel lower (support) and upper (resistance) trend lines. Channels with rising trend lines (rising channel) are considered bullish and the falling channel is considered as bearish . Channels are continuation formations as far as support and resistance are not broken.
Trading technique:
# 1
Buy channeling stock on support and sell on resistance.
# 2 For bullish channel: sell channeling stock when price breakes the stock channeling support line. For bearish channel: buy channeling stock when price breaks the resistance line.
Tips:
# 1 For the best results, stock channeling should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.

Advanced TA Search

Archive
- 3/15/2024 -
Sign In to see current Signals.

Autodesk, Inc. (ADSK) Technical Analysis

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Overbought sectorBroken trend resistance lineBroken trend resistance line
Daily :Stochastic signal line moved above oversold areaThe price has risen above the Parabolic SARPrice is near the Fibonacci 23.6% retracement levelPrice is close to the 50 Day Moving Average
Move cursor over the icon to see details.

It was a first positive week for the Autodesk, Inc. (ADSK). During the week, the ADSK climbed 2.38 points, or 0.94%, and closed at 254.24 on Friday, March 15, 2024. Weekly volume was 13% above average.

ADSK is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See ADSK long-term trend chart]
A long-term downtrend had started on August 24, 2021 at 344.39 and reached 163.20 on June 16, 2022. ADSK lost 181.19 points, or 52.61%, in 42 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (214.54) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See ADSK medium-term trend chart]
A medium-term uptrend had started on June 16, 2022 at 163.20 and reached 279.53 on March 1, 2024. ADSK gained -116.33 points, or -71.28%, in 89 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (214.31) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See ADSK weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since November 24, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See ADSK short-term trend chart]
A short-term downtrend had started on March 1, 2024 at 279.53 and reached 246.17 on March 5, 2024. ADSK lost 33.36 points, or 11.93%, in 4 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See ADSK daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The daily MACD line is below its signal line since February 12, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.27
Williams' Percentage Range (W%R) 68.60
Lane's Stochastic (%D-Slow) 47.52
Greed/Fear Indicator (GFI) 42.08
Moving Average Converg./Diverg. (MACD) 1.34
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.69
Williams' Percentage Range (W%R) 26.10
Lane's Stochastic (%D-Slow) 66.06
Greed/Fear Indicator (GFI) 64.71
Moving Average Converg./Diverg. (MACD) 11.20
Trading Signals
Description Value Chart
Weekly Stochastic Crossing 265.04
Upper Bollinger Band 264.24
20 Day Moving Average 256.50
Daily Stochastic Crossing 256.17
Price 254.24
50 Day Moving Average 252.55
Lower Bollinger Band 248.46
Parabolic System 246.99
Quarterly Trendline Resistance 225.43
Yearly Trendline Support 214.54
Quarterly Trendline Support 214.31
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry Application Software 60
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 279.53
High Date 03/01/2024
Low 246.17
Low Date 03/05/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 188.38
Low Date 04/27/2023
High 279.53
High Date 03/01/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 179.61
Low Date 01/06/2023
High 279.53
High Date 03/01/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 225.43
Support 214.31
Low 163.20
Low Date 06/16/2022
High 279.53
High Date 03/01/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 58.49
Support 214.54
High 344.39
High Date 08/24/2021
Low 163.20
Low Date 06/16/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.