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After Yesterday's Rally of 1.02% Shares Could Potentially Pullback

By Shiri Gupta

Autodesk (NASDAQ:ADSK) traded in a range yesterday that spanned from a low of $84.66 to a high of $85.99. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $84.29 on volume of 623,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Autodesk on December 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $78.17. Since that recommendation, shares of Autodesk have risen 7.8%. We continue to monitor ADSK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Autodesk share prices have moved between a 52-week high of $89.18 and a 52-week low of $41.60 and are now trading 104% above that low price at $84.98 per share. 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%.

Keywords: rebounders Autodesk

Ticker(s): ADSK