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After Yesterday's Rally of 4.71% Shares Could Potentially Pullback

By David Diaz

Autodesk Inc (NASDAQ:ADSK) traded in a range yesterday that spanned from a low of $146.72 to a high of $151.90. Yesterday, the shares gained 4.7%, which took the trading range above the 3-day high of $149.09 on volume of 724,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is monitoring the recent change of momentum in Autodesk Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Autodesk Inc in search of a potential trend change.

Over the past year, Autodesk Inc has traded in a range of $117.72 to $178.95 and is now at $151.55, 29% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has risen 0.3%.

Keywords: rebounders autodesk inc

Ticker(s): ADSK