Autodesk Stock Forecast

Buy candidate since Dec 03, 2024 Gain 2.93%

The Autodesk stock price gained 0.83% on the last trading day (Friday, 6th Dec 2024), rising from $305.17 to $307.71. It has now gained 6 days in a row. It is not often that stock manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.27% from a day low at $305.56 to a day high of $309.43. The price has risen in 7 of the last 10 days but is still down by -2.44% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $402.17 million.

The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 19.63% during the next 3 months and, with a 90% probability hold a price between $353.83 and $393.55 at the end of this 3-month period.

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ADSK Signals & Forecast

The Autodesk stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $299.32 and $299.56. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, November 22, 2024, and so far it has fallen -4.22%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Autodesk stock

Autodesk finds support from accumulated volume at $299.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.87 between high and low, or 1.27%. For the last week, the stock has had daily average volatility of 1.98%.

Since the Autodesk has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $292.91 (-4.81%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (ADSK) For The Upcoming Trading Day Of Monday 9th

For the upcoming trading day on Monday, 9th we expect Autodesk to open at $307.57, and during the day (based on 14 day Average True Range), to move between $300.50 and $314.92, which gives a possible trading interval of +/-$7.21 (+/-2.34%) up or down from last closing price. If Autodesk takes out the full calculated possible swing range there will be an estimated 4.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $299.15 (2.78%) than the resistance at $317.96 (3.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Autodesk stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Autodesk stock to perform well in the short-term.

Current score: 2.915 Buy Candidate Unchanged

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Predicted Fair Opening Price

Predicted fair opening price on December 9, 2024 - $307.57 ( 0.0466%).