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Uptrend ExhaustionArchive
- 11/8/2024 -
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Autodesk, Inc. (ADSK) Technical Analysis
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| Summary:
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| | It was a second consecutive positive week for the Autodesk, Inc. (ADSK). During the week, the ADSK gained 19.20 points, or 6.69%, and closed at 306.10 on Friday, November 8, 2024. Weekly volume was -27% below average.
ADSK is a member of Information Technology Sector. Information Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See ADSK long-term trend chart]
A long-term uptrend had started on June 16, 2022 at 163.20 and reached 307.00 on November 8, 2024. ADSK gained -143.80 points, or -88.11%, in 125 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (299.66). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line 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 307.00 on November 8, 2024. ADSK gained -111.68 points, or -57.18%, in 23 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (288.21) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See ADSK weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and 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 links to access Lane's Stochastic, Relative Strength Index 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 November 1, 2024 at 282.40 and reached 307.00 on November 8, 2024. ADSK gained -24.60 points, or -8.71%, in 7 days. Price is near the trend high.
 Daily Technical Indicators: [See ADSK daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range.
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 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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