ADSK was the trade of the day. ADSK was trading higher in pre-market due to positive earnings last night and an upgrade this morning. I did a Fibonacci extension of the previous day's AH low to the pre-market high and established a target price of $41.75 and placed a buy stop order above the pre-market high of $39.74. I took partial profits in the morning on weakness and the balance in the afternoon when it became clear that ADSK could not break higher. Click on chart for larger view.Wednesday, March 01, 2006
Trade of the Day - ADSK
ADSK was the trade of the day. ADSK was trading higher in pre-market due to positive earnings last night and an upgrade this morning. I did a Fibonacci extension of the previous day's AH low to the pre-market high and established a target price of $41.75 and placed a buy stop order above the pre-market high of $39.74. I took partial profits in the morning on weakness and the balance in the afternoon when it became clear that ADSK could not break higher. Click on chart for larger view.
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