Autodesk Weekly Set Up for Explosive Move to New Highs
Autodesk (ADSK) shares flagging under a big volume shelf at $301.50 and above the rising 21-day MA with a breakout triggering a big weekly breakout that targets new highs. The broader multi-week base has a measured move to $345 and near triggering a weekly squeeze with plenty of room to run as MACD nears a bull cross and RSI back above 55. ADSK has seen some large bullish positions open recently. On 6/24, a trader bought 1000X October $300 calls for $1.35M while 1500 July $300 calls remain in OI from a buyer on 6/25.
Trade to Consider: Long the ADSK August $300 Calls for $8.25 or Better