Autodesk - Barchart's Chart of the Day

Autodesk (ADSK) is Barchart's Chart of the Day.  The software designer has a Trend Spotter buy signal, a Weighted Alpha 45.52+ and gained 41.06% in the last year.

The Chart of the Day is Autodesk (ADSK).  I found the stock by sorting the New High List for frequency in the last month, then skipped over the stocks that did not have positive gains in the last week and month.  I always use the Flipchart feature to review for the best charts.  Since the Trend Spotter signaled another buy on 11/1 the stock gained 18.24%.

The company designs software and digital content for architectural design and land development, manufacturing, utilities, telecommunications, and media and entertainment sectors. Autodesk provides design software, Internet portal services, wireless development platforms, and point-of-location applications that empower customers in numerous countries to drive business and remain competitive.

Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

• 96% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• Hit 16 new highs and gained 9.02% in the last month
• Relative Strength Index 71.02%
• Barchart computes a technical support level at 49.04
• Recently traded at 49.54 with a 50 day moving average of 44.21

Fundamental factors:

• Market Cap $11.05 billion
• P/E 36.54
• Analysts predict revenue will be down 2.30% this year and flat next year
• Earnings are estimated to be down by 16.50% this year, down another 5.60% next year but increase at an annual rate of 8.25% for the next 5 years
• Wall Street brokerage analysts issued 4 strong buy, 3  buy and  12 hold recommendations for their clients.
• Financial Strength is A

The company has been around for a long time.  They are properly positioned and should do well inventing new apps in the coming years.  I think you can be safe using the 100 day averages to gauge weakness on this one.