Stock of the day: Autodesk

In today’s stock spotlight, let’s focus on Autodesk, which is exhibiting a strong bullish breakout. The stock is now trading at its highest levels since late February, supported by clear technical signals that favor buyers.

The most notable pattern here is an inverse head and shoulders, marked clearly with arrows on the chart. This classic reversal setup has already been confirmed, with the price breaking above the green neckline — a move that activates a long-term buy signal.

Adding to the bullish narrative, Autodesk has also cleared a significant horizontal resistance around $274, marked in red. This level acted as a ceiling throughout March and April. The breakout happened last week, and what’s even more encouraging for bulls is the successful retest of that resistance as new support. The price bounced cleanly off this zone, suggesting that demand is strong and willing to step in.

With both a confirmed reversal pattern and a successful retest of broken resistance, the technical sentiment for Autodesk is clearly positive. As long as the price holds above the $274 level, we can expect continued upward momentum in the near term.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-autodesk-4