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Autodesk Inc Rises 1.55% on Heavy Volume: Watch For Potential Pullback

By David Diaz

Autodesk Inc (NASDAQ:ADSK) traded in a range yesterday that spanned from a low of $148.04 to a high of $159.78. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $154.67 on volume of 1.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Autodesk Inc share prices have moved between a 52-week high of $178.95 and a 52-week low of $117.72 and are now trading 33% above that low price at $156.74 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Autodesk Inc on July 29th, 2019 by issuing a Downtrend alert when the shares were trading at $164.66. Since that call, shares of Autodesk Inc have fallen 6.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders autodesk inc

Ticker(s): ADSK