How the price action of Autodesk (ADSK) is used to our Advantage

June 13, 2022, 05:30 am ET, BY Barry C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Autodesk (NASDAQ: ADSK) data table below can help you with price action, and we have more details too. Trading plans for ADSK are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for ADSK

• Buy ADSK slightly over 179.43 target 214.75 stop loss @ 178.91 Details

The technical summary data tells us to buy ADSK near 179.43 with an upside target of 214.75. This data also tells us to set a stop loss @ 178.91 to protect against excessive loss in case the stock begins to move against the trade. 179.43 is the first level of support below 187.08 , and by rule, any test of support is a buy signal. In this case, support 179.43 would be being tested, so a buy signal would exist.

• Short ADSK under 214.75, target 179.43, stop loss @ 215.37 Details

The technical summary data is suggesting a short of ADSK as it gets near 214.75 with a downside target of 179.43. We should have a stop loss in place at 215.37though. 214.75 is the first level of resistance above 187.08, and by rule, any test of resistance is a short signal. In this case, if resistance 214.75 is being tested, so a short signal would exist.

Swing Trading Plans for ADSK

• Buy ADSK slightly over 194.11, target 214.53, Stop Loss @ 193.55 Details

If 194.11 begins to break higher, the technical summary data tells us to buy ADSK just slightly over 194.11, with an upside target of 214.53. The data also tells us to set a stop loss @ 193.55 in case the stock turns against the trade. 194.11 is the first level of resistance above 187.08, and by rule, any break above resistance is a buy signal. In this case, 194.11, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ADSK near 194.11, target 179.43, Stop Loss @ 194.67. Details

The technical summary data is suggesting a short of ADSK if it tests 194.11 with a downside target of 179.43. We should have a stop loss in place at 194.67 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 194.11, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for ADSK

• Buy ADSK slightly over 194.11, target 194.44, Stop Loss @ 193.66 Details

If 194.11 begins to break higher, the technical summary data tells us to buy ADSK just slightly over 194.11, with an upside target of 194.44. The data also tells us to set a stop loss @ 193.66 in case the stock turns against the trade. 194.11 is the first level of resistance above 187.08, and by rule, any break above resistance is a buy signal. In this case, 194.11, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ADSK near 194.11, target 186.08, Stop Loss @ 194.56. Details

The technical summary data is suggesting a short of ADSK if it tests 194.11 with a downside target of 186.08. We should have a stop loss in place at 194.56 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 194.11, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

ADSK Ratings for June 13:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Weak
P1	0	0	179.43
P2	186.08	194.11	214.75
P3	194.44	214.53	251.97

Support and Resistance Plot Chart for ADSK

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