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Uptrend Broken SupportArchive
- 9/13/2024 -
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Autodesk, Inc. (ADSK) Technical Analysis
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| Summary:
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| | It was a first positive week for the Autodesk, Inc. (ADSK). During the week, the ADSK gained 13.59 points, or 5.43%, and closed at 263.96 on Friday, September 13, 2024. It was the best weekly gain since June 21, 2024. ADSK was trading at average weekly trading volume.
 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 Broadening Ascending Wedge chart pattern. The trend support level is at 201.04 and resistance is at 295.06. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge 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 275.63 on August 30, 2024. ADSK gained -80.31 points, or -41.12%, in 13 weeks. The price is now at the 14.53% retracement level.
 Weekly Technical Indicators: [See ADSK weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic and Williams' Percentage Range 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. 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 August 5, 2024 at 223.03 and reached 275.63 on August 30, 2024. ADSK gained -52.60 points, or -23.58%, in 25 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 main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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.
The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The distance between the Bollinger Bands is falling, and it was 5.97% on Friday. It is 50.26% lower than one year average. It indicates the period of low volatility of the stock price. 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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