Nov. 13 at 1:10 AM
$ADSK is currently trading at
$302.14, below both the 30-day moving average (MA30) of
$307.1 and the 50-day moving average (MA50) of
$313.13, indicating bearish momentum. The RSI at 43.27 suggests the stock is approaching oversold territory but is not yet there, implying potential for further downside. The recent 60-day high of
$329.09 and low of
$281.75 establishes a range, with the current price closer to the low, reinforcing bearish sentiment.
Trade Plan:
- Directional Bias: Bearish
- Suggested Entry:
$300 (below current close to confirm weakness)
- Stop:
$310 (above MA30 to limit losses)
- Target 1:
$290 (near 60D low)
- Target 2:
$280 (psychological support level)
This plan capitalizes on the current bearish trend while managing risk effectively.
https://privateprofiteers.com
