Filed Under:
Tickers in this Article:
Autodesk has bounced off the support of a long-term trendline several times over the past two years. But as you can see from the chart, this time the support was not strong enough to prevent the bears from pushing the price below the trendline. A break below a major trendline, such as the one shown in the chart, is used by technical traders as an early signal of a more significant pullback. We'd expect to see ADSK head lower until it is able to close back above the resistance of the ascending trendline.

comments powered by Disqus
Trading Center