The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

Archive
- 7/12/2024 -
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Autodesk, Inc. (ADSK) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is overbought
Daily :Williams' Percentage Range is overboughtStochastic signal line moved below overbought areaLane's Stochastic and MACD bearish divergence
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It was a sixth consecutive positive week for the Autodesk, Inc. (ADSK). During the week, the ADSK gained 5.58 points, or 2.25%, and closed at 253.45 on Friday, July 12, 2024. Weekly volume was -11% below 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 trend support level is at 223.55 and resistance is at 290.37. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.

Medium-term trend: [See ADSK medium-term trend chart]
A medium-term uptrend had started on May 31, 2024 at 195.32 and reached 255.55 on July 12, 2024. ADSK gained -60.23 points, or -30.84%, in 6 weeks. Price is near the trend high.

Weekly Technical Indicators: [See ADSK weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 above its signal line since June 28, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 July 9, 2024 at 241.18 and reached 255.55 on July 12, 2024. ADSK gained -14.37 points, or -5.96%, in 3 days. The price is now at the 14.61% retracement level.

Daily Technical Indicators: [See ADSK daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Williams' Percentage Range help.

The daily MACD line is above its signal line since July 11, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.53
Williams' Percentage Range (W%R) 18.60
Overbought
Lane's Stochastic (%D-Slow) 69.62
Bearish
Greed/Fear Indicator (GFI) 72.84
Moving Average Converg./Diverg. (MACD) 6.81 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.96
Williams' Percentage Range (W%R) 36.10
Lane's Stochastic (%D-Slow) 81.58
Overbought
Greed/Fear Indicator (GFI) 67.56
Moving Average Converg./Diverg. (MACD) -0.43
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 290.37
Upper Bollinger Band 255.30
Price 253.45
Daily Stochastic Crossing 250.63
Weekly Stochastic Crossing 250.57
20 Day Moving Average 243.23
Parabolic System 241.52
Lower Bollinger Band 227.26
50 Day Moving Average 226.25
Quarterly Trendline Support 223.55
Sector and Industry
Description Name Rank
Sector Information Technology 7
Industry Application Software 89
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 241.18
Low Date 07/09/2024
High 255.55
High Date 07/12/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 195.32
Low Date 05/31/2024
High 255.55
High Date 07/12/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 279.53
High Date 03/01/2024
Low 195.32
Low Date 05/31/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 290.37
Support 223.55
Low 163.20
Low Date 06/16/2022
High 279.53
High Date 03/01/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
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.