Trade Ideas Newsletter 05/29/2017

ADSK is showing significant strength right now

Based on the analysis above in ADSK, traders should determine that their portfolio can handle the additional risk from a new position. Also be sure that ADSK is not significantly correlated with your existing positions. Lastly, experienced traders never ignore how a new addition relates both to the overall market conditions as well as their existing account. For example, check the S&P 500. Is it trending or stationary recently? Has it moved up or down though key levels? Be sure to matvh up your trading actions on ADSK with the overall market so you are fighting the crowd.

CHART

Currently the important sentiment levels, evaluated by Traders For Wealth, have shown an increasingly positive bias toward ADSK. Also, the price action in ADSK has been moving up a lot. This is a strong sign for a potential upside breakout. Traders should view this as a bullish trade and make sure it aligns with the overall market mood, and their current positions.

Autodesk Inc (ADSK)

Autodesk, Inc. is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E). The Company serves customers in the architecture, engineering and construction; product design and manufacturing; and digital media and entertainment industries. The Company’s product development and manufacturing software provides manufacturers in automotive, transportation, industrial machinery, consumer products and building products with digital engineering solutions. The Company’s product offerings include, AutoCAD, AutoCAD LT, Industry Collections, 3ds Max, Maya, Revit, Inventor, AutoCAD Civil three dimensional (3D), CAM Solutions, Fusion 360, BIM 360 and Shotgun.