Application software firm Autodesk (Nasdaq: ADSK) has been on a bit of roller coaster ride over the last nine months. The stock was down under $130 last July and then bounced up to the $160 area. Then it fell with the overall market in October, bounced again and fell again in December. Since the December low when the stock was under $120, it had bounced back up to above $165 before pulling back in the last few weeks
Despite the roller coaster ride, it looks like the stock has found support at the $150 level and is hovering just above it currently. The $150 level marked a temporary high in December—between the high from last fall and the recent high.
The stock fell enough in March that the stochastic readings dropped in to oversold territory. They have climbed slightly and are just above oversold territory at this time and the indicators just made a bullish crossover.
The Tickeron AI Trend Prediction tool generated a bullish signal on Autodesk on March 18. That signal had a confidence level of 67% and it calls for a gain of at least 2% over the next week. Previous predictions on Autodesk have been accurate 70% of the time.
The fundamentals for Autodesk are rather perplexing. The earnings have been flat over the last three years and so have the sales. However, the most recent quarterly report showed an earnings jump of 611% and a sales jump of 33%. The company doesn’t have a return on equity because it had been losing money and that also meant a negative profit margin. The question is whether the company has turned the corner and will now return to profitability in 2019.
The Aroon Indicator for ADSK entered a downward trend on April 08, 2024. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 141 similar instances where the Aroon Indicator formed such a pattern. In of the 141 cases the stock moved lower. This puts the odds of a downward move at .
The Momentum Indicator moved below the 0 level on April 02, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on ADSK as a result. In of 93 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for ADSK turned negative on April 01, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 50 similar instances when the indicator turned negative. In of the 50 cases the stock turned lower in the days that followed. This puts the odds of success at .
ADSK moved below its 50-day moving average on April 02, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for ADSK crossed bearishly below the 50-day moving average on April 05, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 17 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ADSK declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The RSI Indicator shows that the ticker has stayed in the oversold zone for 4 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an Uptrend is expected.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 11 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ADSK advanced for three days, in of 339 cases, the price rose further within the following month. The odds of a continued upward trend are .
ADSK may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. ADSK’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 90, placing this stock slightly better than average.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (29.940) is normal, around the industry mean (29.910). P/E Ratio (61.919) is within average values for comparable stocks, (155.839). Projected Growth (PEG Ratio) (1.557) is also within normal values, averaging (2.725). Dividend Yield (0.000) settles around the average of (0.081) among similar stocks. P/S Ratio (10.194) is also within normal values, averaging (55.319).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a developer of multimedia software products
Industry PackagedSoftware