AutoDesk ending downtrend?
Updated
Autodesk is breaking the downtrend from late February.
Closing above $190 would put us above horizontal resistance, and deny the double-top formation.
When using fibonacci retracement lines, we see strong support at the 50%, and we are now rallying of the 61.8%.
Important to mention they come out with earnings Wednesday 27th after-market.
Buying a week pre-earnings has been a strategy working well for me so far.
Watching closely.
Closing above $190 would put us above horizontal resistance, and deny the double-top formation.
When using fibonacci retracement lines, we see strong support at the 50%, and we are now rallying of the 61.8%.
Important to mention they come out with earnings Wednesday 27th after-market.
Buying a week pre-earnings has been a strategy working well for me so far.
Watching closely.
Note
$197 - $202 gap is our next consolidation area to break or to see a pullback.
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