Bullish Shark Strong POTENTIAL REVERSAL ZONE AS
Earlier Pattern given good reaction on Type1 entry & hit Both Targets
now price again came into PRZ Zone of Pattern it becomes a TYPE2 Entry which is REVERSAL
Price need to follow GREEN TREND LINE and hit Target 1 & 2 , else if Price BREAKS RED TREND LINE is EXIT
POTENTIAL BUY
The breakdown of the double bottom and the lack of demand gave me a good sell signal. The sector is in decline. My Wyckoff zone liquidity zone indicator clearly identified the zone to which the price was attracted
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The PEAD projected a Bullish outlook for $ADSK after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 62.5%.
We just finished 1-5 Elliot Wave, ABC correction and XWY combination, and bounced off of a strong monthly demand zone, we already missed out on an entry, but we can still enter now but our R/R is low, I would suggest waiting for a retrace to an entry zone, because market made tiny gap while bouncing up which should be filled and we should get a good...
Hi everyone, Yurii Domaranskyi here. Let's take a look at the chart:
1. Price levels are working good here
2. Globally and locally downtrend
3. Closed below the level
4. Understandable stoploss
5. enough room for 1 to 5.1 r/r
6. The price came from above
Potential risk/reward ratio = 1 to 5.1 meaning that potential risk 100$ with the possibility to make...
Adsk breaks the moving average with a scary volume + and a big diffrence in price between the closing of the market on 23 Nov and the opening on 24 Nov .
the ADSK value wil plunged to reach the 215.83 support. and then we will discus the possibilty of the breking or not-breaking the support
Right now MM seems to be moving money out off big tech, so anything in the sector will probably be a good shorting opportunity. Here's a look at ADSK and as you can see we have fallen below the ascending channel and look to be heading toward 262 which is the 2.618 fib retracement.
Not financial advise
Conviction: 3/5
could go up some more in near term, but looks quite risky long-term (5+ years)
General Thesis
weekly RSI showing bearish divergence
recently had multiple touches on long-term channel resistance (1991)
Growth
Gross margins (90%) at historical highs
Revenue growth (18%) also high relative to own history, maybe 80th percnetile
...
Autodesk seems to have completed a Expanded Flat correction, Question is, is the C Wave finished or does it still has some downside to run? Well, if it can managed to hold the previous lows then more likely we will see price coming down to the 161.8% Fib Expansion , that would gives a perfect spot to buy it. Losing that level might tell us that the correction...
After earnings it gapped down hard and the tech slide pushed it down even more. It bounced off support at $245 and i want to see if push back above the resistance/gap high of $268 to then push up to $275. I will taking calls above $268 (2-4 weeks out)
Fell back inside weekly channel on volume not seen since Covid 2020 crash.
Bounced off its weekly 100sma and is outside of its bollingerbands . With that being said we might see some sideways choppy action the next few days to allow the bands to catch up.
Eventually I think we are headed towards weekly supporting trendline near 200$..
And so the story goes, more funny money paper-handed retail selling out of fear without realizing what they hold. This move was way overdone and Market Makers and shorts capitalized on the fear. The growth story is intact - don't buy into the inflation fear and supply chain narratives.
ADSK has a long history of consistent uptrend. After positive earnings, it gapped down, found support in the long term trend as well as recent channel support.
Blue dotted line support is a +1.236 Fib level within a Modified Pitchfork influenced by reference points in October 1999 (Low), December 2007 (High), and March 2009 (Low)
MACD has made a sharp bend...
