ADSK LONG POSITIONWe just finished 1-5 Elliot Wave, ABC correction and XWY combination, and bounced off of a strong monthly demand zone, we already missed out on an entry, but we can still enter now but our R/R is low, I would suggest waiting for a retrace to an entry zone, because market made tiny gap while bouncing up which should be filled and we should get a good entry.
Entry 192 (After a retrace to entry zone for better R/R, we can enter now, but risk reward ratio is very low)
Invalidation 123 (Just below Demand zone)
Target 1: 260 (50 Fib zone)
Target 2: 299 (Daily gap zone)
ADSK trade ideas
Has enough room for a move.Hi everyone, Yurii Domaranskyi here. Let's take a look at the chart:
1. Price levels are working good here
2. Globally and locally downtrend
3. Closed below the level
4. Understandable stoploss
5. enough room for 1 to 5.1 r/r
6. The price came from above
Potential risk/reward ratio = 1 to 5.1 meaning that potential risk 100$ with the possibility to make 510$
If it does make sense to you, press a thumb up! 👍
Autodesk analysis : selling signalAdsk breaks the moving average with a scary volume + and a big diffrence in price between the closing of the market on 23 Nov and the opening on 24 Nov .
the ADSK value wil plunged to reach the 215.83 support. and then we will discus the possibilty of the breking or not-breaking the support
Short ADSKRight now MM seems to be moving money out off big tech, so anything in the sector will probably be a good shorting opportunity. Here's a look at ADSK and as you can see we have fallen below the ascending channel and look to be heading toward 262 which is the 2.618 fib retracement.
Not financial advise
$ADSK long-term (multi-year) top? (3/5)Conviction: 3/5
could go up some more in near term, but looks quite risky long-term (5+ years)
General Thesis
weekly RSI showing bearish divergence
recently had multiple touches on long-term channel resistance (1991)
Growth
Gross margins (90%) at historical highs
Revenue growth (18%) also high relative to own history, maybe 80th percnetile
Value
P/FCF about average in the last 12 months
P/S at historical highs (about 80th percentile)
Fundamentals & Balance Sheet
low debt to asset (<1)
quick ratio mild (.8)
Potential Risks
could continue to hug upper resistance
short term bounce is possible, last time price touched trend line it took 4 years to touch bottom trend line
Historically no bullish divergence before bounce
Autodesk, 4th Wave finished?Autodesk seems to have completed a Expanded Flat correction, Question is, is the C Wave finished or does it still has some downside to run? Well, if it can managed to hold the previous lows then more likely we will see price coming down to the 161.8% Fib Expansion , that would gives a perfect spot to buy it. Losing that level might tell us that the correction might not be over yet and we are looking at a different pattern.
Autodesk post earnings Fell back inside weekly channel on volume not seen since Covid 2020 crash.
Bounced off its weekly 100sma and is outside of its bollingerbands . With that being said we might see some sideways choppy action the next few days to allow the bands to catch up.
Eventually I think we are headed towards weekly supporting trendline near 200$..
Overdone selling - strong 50MA weekly supportAnd so the story goes, more funny money paper-handed retail selling out of fear without realizing what they hold. This move was way overdone and Market Makers and shorts capitalized on the fear. The growth story is intact - don't buy into the inflation fear and supply chain narratives.
ADSK Dip Looks DoneADSK has a long history of consistent uptrend. After positive earnings, it gapped down, found support in the long term trend as well as recent channel support.
Blue dotted line support is a +1.236 Fib level within a Modified Pitchfork influenced by reference points in October 1999 (Low), December 2007 (High), and March 2009 (Low)
MACD has made a sharp bend back up toward the signal line, well-suited for a potential crossover further reinforced by RSI crossing over EMA12.
Pull Back FishingI am re-posting this because I really screwed it up earlier by not erasing stuff from older posts. Patterns change and nothing goes up forever, except gas, cars, houses and groceries (o:
Looks like a Bull Shark but market has been in a funk so I am in an overly cautious mode I think )o: Today was a decent day but I am not sure if it was just a relief day or not. Tomorrow is another day.
ADSK did seem to bounce off the .886 fib level just like good sharks do. Bad sharks can kill you though so behooves one to watch for a consolidation zone. So far there are 3 candles at this level, the .886. Peak 2 is higher than peak 1 so clues one in that it may be a Cypher or a Shark.
If one wanted to trade this, a stop below the most recent low may work. I do feel now is a time to watch your trades though. Sometimes cutting down on position size or the amount of trades can be lucrative to your wallet.
No recommendation.
A lot of red looks very bearish, and it is, but enough of it can also flush out most of the sellers, and often buyers come in to the picture. I do own this stock/Just FYI
Pull Back FishingADSK looks to have formed a bullish harmonic pattern, a crooked M.
I would guess this is a Cypher or a Shark as peak 2 is above peak1. The cypher pulls to .786 of the AC leg and is labeled XABCD with D being the PRX, point of reversal, or the completion zone. The theory being that once price makes it to D, a bullish trend should resume.
The shark is labeled 0XABC and C is the reversal zone. Peak 1 is lower than peak 2, but C should be found in a bull shark at the .886 of OX, the first leg. This differs from the Cypher, as D, point of completion, is found at the .786 of XC and not XA. So in a cypher, you are looking for the .78 point of the entire structure and not just the first leg up in a bullish case. There are also bearish harmonic patterns and animals (o:
Several bottoms noted at current support level which can mean the bulls made a stand here.
No recommendation
ADSK Gap Fill OpportunityExcellent opportunity for a 15%+ trade here in the near future. Bounced nicely off key 280 support level on Friday after gap down and heavy selling following earnings beat. I believe the bottom of the short term dip is in and a nice trading opportunity presents itself.
Bollinger bands present an overextention of the price outside lower band and volume incicating selling pressure running out of steam.
Good luck All🤞
Secondary bounce or back to Primary?Primary channel/ Uptrend- Red lines
Secondary / Super uptrend - yellow line
Next week will be telling. if the market does head for a correction this could take a trip back into its Primary channel which even though its in a uptrend it would mean a 30% hair cut.
Back in march when the nasdaq corrected Adsk actually fell and bounced off its Primary.
Analysts gave this an average of 340 price target , the same peole who gave tesla 1000 price target😂
Lets see what happens
ADSK, TIME TO BUY!Hello fellow traders and investors, ADSK has recently sold off approaching their earnings report which they beat. It offers a 20% ROI to it's previous high.
Entry: Now
Take Profit: ~345$
Stop Loss: ~281.50$
Technicals:
-RSI=Oversold
-Still trading under the 12SMA
-Testing a support area
Fundamentals:
-Description: Autodesk, Inc. engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions; architecture, engineering, and construction software improves the way buildings, factories, and infrastructure are designed, built, and used; and digital media and entertainment, which consists of tools for digital sculpting, modeling, animation, effects, rendering, and compositing for design visualization, visual effects, and games production.
- Market Cap: 62B
- Sales Last 12 Months: 3.89B
- P/E: 49
- P/S: 15.96
- Debt/Equity: 0
- Sales growth Q/Q: 12%
- EPS growth Q/Q: 133%
- Profit Margin: 31%
- Short Float: 1%
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