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Autodesk Inc Rises 1.44% on Heavy Volume: Watch For Potential Pullback

By Shiri Gupta

Autodesk Inc (NASDAQ:ADSK) traded in a range yesterday that spanned from a low of $137.76 to a high of $139.44. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $139.25 on volume of 808,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Autodesk Inc share prices have been bracketed by a low of $99.22 and a high of $141.26 and are now at $139.14, 40% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

SmarTrend is tracking the current trend status for Autodesk Inc and will alert subscribers who have ADSK in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders autodesk inc

Ticker(s): ADSK