Bullish if ADSK breaks this resistance around 270-275. An infrastructure bill would benefit ADSK, it's performing relatively well against the rest of the NASDAQ and QQQ. Senator transaction included ADSK recently too. Included in ARK's new Space ETF. Currently facing selling pressure from the rest of the tech rotation, therefore could outperform a lot of other tech names if a tech run occurred.
Bear case is the current tech rotation, and it could continue in it's current downtrend if it rejects the 270-75 resistance which will likely depend on how the rest of tech/nasdaq/spy do.
Overall I am watching this one for a breakout past 275 with a possible upside to around 300.
Bear case is the current tech rotation, and it could continue in it's current downtrend if it rejects the 270-75 resistance which will likely depend on how the rest of tech/nasdaq/spy do.
Overall I am watching this one for a breakout past 275 with a possible upside to around 300.