We tried to catch the knife but we don't got filled with our long orders at 308.51$. Atleast we have a gap at our turqouis line and maybe we see a gap fill before ADSK pushing new all time highs.
Trade active
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Buy orders got filled.
Trade closed manually
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We didn't closed last week above 317.60$ and lost the area. This is the reason why we are closed manually our ADSK trade and looking now for better spots to buy with less risk.
ADSK filled the gap 301.94$ but we didin't use it as entry because ADSK is making new local lows so i think its more likely we are testing the previous resistance arround 295$ – 292$(our level to buy). If we hold and gain this level as support my first profit target will be 322.24$ and second profit target 339.46$. Stop loss is below 284.12$.
Risk Reward ratio: 4.75
Comment
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I try to buy more at 287.15$ and our stop loss is below 284.12
Debating adding to my small speculative position to make it closer to a core position on the recent 10% pullback. My friend who does animation for a living says they still prefer things built in Maya over Unity--"unless it's something as simple as a door falling" lol.... That said, Shutterstock trades at a way cheaper P/E and pays a dividend for me to hold it. Maybe options call makes more sense for ADSK? I've been trying to stay away from options the last few months tho.... Anyway, happy trading fellow Lions!