Autodesk, Inc. - ADSK - close: 43.52 change: -0.17

Stop Loss: 39.90
Target(s): 46.00
Current Gain/Loss: unopened
Time Frame: 2 weeks
New Positions: Yes, see trigger

Company Description

Why We Like It:
ADSK is a software firm that has seen its stock channel higher for weeks now. Shares look a little short-term overbought and we want to hop on board if it dips back toward $42.00. We'll place our stop loss at $39.90. This is a short-term, two-week trade. ADSK is due to report earnings in late February and we do not want to hold over the announcement.

I am suggesting a trigger to open small bullish positions at $42.10. Our target is $46.00.

Trigger @ 42.10

Suggested Position: Buy ADSK stock @ 42.10

- or -

Buy the March $45 call (ADSK1119C45) current ask $1.39

Annotated chart:

Entry on February xx at $xx.xx
Earnings Date 02/23/11 (unconfirmed)
Average Daily Volume: 2.5 million
Listed on February 7th, 2010