Sell signal, week 5 · US stocks
Autodesk gains 1.2% after a fresh low that the weekly close failed to confirm
Our view last week
Autodesk stock slipped 3.5% in a week when XLK, the US technology sector ETF, gained 3.5%, and the price is back on the 209 area low with no session defending it yet. The price action is blunt: sellers dominated the weekly bar to an extreme, and money flow dropped below zero after 8 weeks. Compared with a week ago the decline has found its stride again, making lower lows; in technical analysis terms, opening a short here remains high-risk for one of the tech stocks to watch.
This week's summary
The price printed a fresh 30-day low this week, in the 199 area, but the close did not confirm it and the week ended up 1.2%. A week ago the decline looked to have found its stride; now Autodesk stock recovers, though by less than XLK, the US technology sector ETF, up 1.8%. Technical analysis keeps it among the weaker tech stocks: price action is indecisive, the weekly MACD has slipped under its Signal line, and the 20-day moving average, in the 218 area, turned the bounce back again.
IQS Phase
79
in tension
Signal Strength
7
decline losing steam
Sizing
MINIMUM
Ranking
#136 / 175
US stocks
Trade P&L %
+2.71%
from signal to date, no stop loss
Autodesk (ADSK) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 136th among the 175 sell signals for US stocks in our ranking, with a signal strength of 7 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimein strong phase
Performanceweekly +1.80% · monthly +8.83%
ADSK belongs to the growth tech sector (reference ETF XLK). The sector is classified in strong phase according to our weekly reading.
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