Bearish Moving Average Cross by Autodesk (ADSK)
Today, shares of Autodesk (NASDAQ:ADSK) have fallen below their 10-day MA of $67.28 on a volume of 702K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, Autodesk share prices have been bracketed by a low of $41.60 and a high of $69.21 and are now at $66.79, 61% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has risen 0.3%.
SmarTrend recommended that subscribers consider buying shares of Autodesk on July 21st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $58.21. Since that recommendation, shares of Autodesk have risen 15.8%. We continue to monitor ADSK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Autodesk