ADSK closes within prior day's range after lackluster session
Autodesk Inc. (ADSK) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
ADSK finished the week 2.12% higher at 134.85 after losing $0.26 (-0.19%) today. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (ADSK as at Aug 10, 2018):
Friday's trading range was $2.49 (1.85%), that's below last trading month's daily average range of $3.36. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.
Prices are trading close to a key support level at 134.44. The stock found buyers again today around 133.71 for the third trading day in a row after having found demand at 133.89 in the prior session and at 133.47 two days ago.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could speed up should prices move above the nearby swing high at 137.00 where further buy stops might get triggered. Selling could accelerate should prices move below the close-by swing low at 133.47 where further sell stops might get activated. Further buying could move prices higher should the market test July's nearby high at 137.96.