On the chart of Autodesk(ADSK) we can see a double top pattern. For the whole year of 2022 ADSK has been in a downtrend and it is likely to continue in 2023.
The double top pattern is a bearish pattern. Once the price breaks down the neckline and turns into a resitance instead of a support the pattern gets validated and the trade can be entered. Take your profits and the target can be targeted.
All further details are shown on the chart.
P.S. Enter short position only if/when the price breaks the neckline!
Goodluck!
The double top pattern is a bearish pattern. Once the price breaks down the neckline and turns into a resitance instead of a support the pattern gets validated and the trade can be entered. Take your profits and the target can be targeted.
All further details are shown on the chart.
P.S. Enter short position only if/when the price breaks the neckline!
Goodluck!
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Support has held . Looks bullish now.
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