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Advanced TA SearchArchive
- 5/17/2024 -
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Autodesk, Inc. (ADSK) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the Autodesk, Inc. (ADSK). During the week, the ADSK gained 3.44 points, or 1.58%, and closed at 221.21 on Friday, May 17, 2024. It was the best weekly gain since March 22, 2024. Weekly volume was 6% above average.
 Long-term trend: [See ADSK long-term trend chart]
A long-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 Rising Channel chart pattern. The price is near the trend support (219.25) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.
 Medium-term trend: [See ADSK medium-term trend chart]
A medium-term downtrend had started on March 1, 2024 at 279.53 and reached 206.23 on April 18, 2024. ADSK lost 73.30 points, or 26.22%, in 6 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 179.17 and resistance is at 238.53. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See ADSK weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. 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 weekly MACD line is below its signal line since March 28, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See ADSK short-term trend chart]
A short-term uptrend had started on April 18, 2024 at 206.23 and reached 221.65 on May 15, 2024. ADSK gained -15.42 points, or -7.48%, in 27 days. Price is near the trend high.
 Daily Technical Indicators: [See ADSK daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
The daily MACD line is above its signal line since May 2, 2024. This is an indication that the short-term trend is up.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (5.21%) is close to one year low (5.58%). It is 54.53% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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