Autodesk, Inc. (ADSK) stock price recorded cautious gains in its latest session, attempting to recover part of its previous losses. However, negative pressure remains due to trading below its SMA50, which reinforces the stability and dominance of the short-term downtrend, with price action moving along a trend line supporting this bearish path. In addition, negative signals continue to appear on the RSI after forming a negative divergence following extremely overbought readings compared to price action.

Therefore we expect the stock price to decline in upcoming trading, as long as the $266.60 resistance level remains intact, to target the $247.20 support level.

Todays price forecast: Bearish