ADSK closes within prior day's range after lackluster session
ADSK ended Monday at 129.72 edging higher $0.55 (0.43%) on low volume. Closing within the previous day's range, prices failed to decisively move past the prior 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.
Monday's trading range was $2.34 (1.79%), that's far below last trading month's daily average range of $4.03. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.
Prices are trading close to a key support level at 127.98. After trading as low as 128.77 during the day, the stock found support at the 20-day moving average at 129.33.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The share managed to break above the 20-day moving average at 129.33 today for the first time since April 10th.
Buying might accelerate should prices move above the nearby swing high at 133.55 where further buy stops could get triggered. Selling might speed up should prices move below the close-by swing low at 127.98 where further sell stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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|Bullish Bounce off SMA 20||TQ Pro Members Only|
|Bullish Break through SMA 20||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
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