No CAD Program Needed to See This Set Up

AUtodesk, $ADSK, had a solid run higher from August last year until the peak at 58.68 at the end of February. Over that period the stock rose 80%. The pullback retraced 50% of that move, and then consolidated between the 38.2% and 50% levels before turning back higher. It has now drawn a Cup and Handle pattern after testing the prior consolidation at 55 and a minor retrace and turn higher. The pattern targets a move to 65.25. There is also

adsk

an AB=CD pattern that would target a move to 68.90 above. Two styles with two targets over 18% higher. How can yo not like that. And with the bottom of the Handle at 53.50 nearby as a stop it is a low risk trade too. The Cup and Handle triggers over 55 but the AB=CD is in play now. I bought a little today at 54.78. Your money, your choice.

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