A macro Accumulation structure has been observedAutodesk, Inc.BATS:ADSKKhanhC.HoangAnalyst Adjustments: On May 21, 2026, KeyBanc lowered its price target from $365 to $341 due to mixed channel checks, but maintained an Overweight rating, noting the current setup is conservative enough for an inline or nominal beat. Loop Capital and Wells Fargo previously trimmed targets to $250 and $350, respectively, while Jefferies initiated coverage with a Buy rating and a $300 target. Higher-Timeframe Trend & Momentum: Major Weekly trend is bearish to neutral, correcting from the 52-week high of $329.09. Daily momentum is shifting from a steep Markdown phase into an extended horizontal consolidation range, showing clear signs of decelerating downside velocity over the past 90 days. Key Support/Resistance Levels: Resistance: $247.50 (Local May cluster), $251.04 (May swing high), $264.12 (March local peak). Support: $231.03 (Mid-May local low), $214.10–$218.45 (Macro structural floor / 52-week low). Wyckoff Analysis Current Phase: Late Phase B / Early Phase C of a macro Accumulation structure. Major Price Structures: The initial descent from $329 initialized a primary Markdown. A Selling Climax (SC) was established at $214.10 in late February, followed by an Automatic Rally (AR) to $264.12. The subsequent drop to $218.45 in April served as a Secondary Test (ST). The current tape forms a well-defined Trading Range (TR) between $214 and $255, currently compressing ahead of a binary catalyst. Price-Volume Relationship: Volume expanded aggressively on the initial markdown legs but has systematically diminished on recent downside tests (specifically during the mid-May slide to $231.03). This volume divergence signals the exhaustion of floating public supply. Institutions are actively absorbing shares and executing a quiet retention strategy within the range, withholding major directional capital until the upcoming earnings release. Most Probable Next Move: A high-volume volatility expansion out of the current compression zone, resolving either via a Phase D "Jump Across the Creek" (JAC) or a final Phase C liquidity sweep (Spring) before structural markup.