Stock of the day: Autodesk

Stock of the day: Autodesk
The stock of the day on Thursday brings us an analysis of Autodesk. Here, I can see the first stage of a very promising buy signal, and I think that today's session can be crucial for the final outcome of whether the signal will eventually be triggered or not.
Autodesk is in a long-term symmetric triangle pattern (black). Most recently, the price bounced off the lower line of this triangle, which, in theory, is a bullish price action. In addition to this, yesterday ADSK managed to climb back above the key mid-term downtrend line (red), which connects key lower highs in 2023, as well as above the orange resistance around 192 USD.

It looks promising for the buyers, but I am not fully convinced yet; that's why I'm waiting for today's session. The missing piece in the puzzle for me is the price closing a day on the new monthly highs. After that happens, the buy signal will be triggered. Let's see what buyers have to offer today…
Show More Articles
Axiory uses cookies to improve your browsing experience. You can click Accept or continue browsing to consent to cookies usage. Please read our Cookie Policy to learn more.