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Downtrend ResistanceArchive - 3/15/2024 - Sign In to see current Signals. |
Autodesk, Inc. (ADSK) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 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.
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