1ADSK trade ideas
ADSK TestBullish if ADSK breaks this resistance around 270-275. An infrastructure bill would benefit ADSK, it's performing relatively well against the rest of the NASDAQ and QQQ. Senator transaction included ADSK recently too. Included in ARK's new Space ETF. Currently facing selling pressure from the rest of the tech rotation, therefore could outperform a lot of other tech names if a tech run occurred.
Bear case is the current tech rotation, and it could continue in it's current downtrend if it rejects the 270-75 resistance which will likely depend on how the rest of tech/nasdaq/spy do.
Overall I am watching this one for a breakout past 275 with a possible upside to around 300.
ADSK 🌦Would you look at that! A lower degree correction that looks like a copy paste of the higher degree correction. Some people use RSI for signals I prefer to use fractals. A stock is like a person, we tend to judge people based on personality and conduct. The personality aspect pertains to the fundamental analysis and the conduct relates to technical analysis. The two components don't always align. Some argue that FA is dominant others like myself argue that technical analysis is the way to go. If I had to pick only one it would be TA.
$ADSK - IHSThe IHS potential is following prediction.
I grabbed call options 2/16 with March 19 expiration and $310 strike
There is one sweep buy for 4/16 at $380 that I could find
Playing the march up into earnings
I over paid, the cost is lower now. Thinking I may add some to lower my avg price
I need to be at $324 ASAP (before 2/25 ideally) to get a 30% return given the price I paid, if I do not average down.
Short itRising wedge on weekly channel
fell below 100ma friday
Macd bearish
double top at 293
Selling volume looks like 3d redcarpet
Checked on webull and the big institutions are dumping.
1st target is channel bottom 280$
2nd target is 262 support (if channel bottom can't hold )
It's been down 7 straight days so I wouldn't be surprised to see a green day but that just a dead cat bounce
$ADSK projected with a bullish outlook following earningsThe PEAD projected a bullish outlook for $ADSK after a positive under reaction following its earning release placing it in Drift A
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$ADSK LONGAutodesk is one of my fav. companies to trade on the markets. For whatever reason they follow technical fundamentals in charting way more than other stocks so it's easier to swing trade in a traditional sense.
It broke out today on a strong earnings report. I think ADSK at 300 by Jan 2021 and 350 by mid 2021
Cup formed, handle next, run into earningsUpdating my ADSK idea from a few days back which has played out nicely. This has formed a nice cup and considering 1. the bullish week it had and 2. the fib retracement (1) and extension (1.618) immediately above, it should bounce off resistance to begin forming the handle. I am reticent to predict an exact path but I think there is a good likelihood that consolidates below, potentially creating a proportional handle at 30% of the cup, before moving upward to new ATH in a pre-earnings run up.
In the past version I had incorrectly listed the 1.618 extension by a point and have updated it to 265.85. I have also updated the upper trend line and fib extensions above.