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After Yesterday's Rally of 8.18% Shares Could Potentially Pullback

By David Diaz

Autodesk Inc (NASDAQ:ADSK) traded in a range yesterday that spanned from a low of $150.64 to a high of $162.41. Yesterday, the shares gained 8.2%, which took the trading range above the 3-day high of $156.06 on volume of 1.0 million 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 its subscribers protect gains by selling shares of Autodesk Inc on February 24th, 2020 by issuing a Downtrend alert when the shares were trading at $194.86. Since that call, shares of Autodesk Inc have fallen 23.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Autodesk Inc share prices have moved between a 52-week high of $211.58 and a 52-week low of $125.38 and are now trading 29% above that low price at $162.29 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.4%.

Keywords: rebounders autodesk inc

Ticker(s): ADSK