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Autodesk Inc Rises 8.18% on Heavy Volume: Watch For Potential Pullback

By Amy Schwartz

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.

In the past 52 weeks, shares of Autodesk Inc have traded between a low of $125.38 and a high of $211.58 and are now at $162.29, which is 29% above that low price. The 200-day and 50-day moving averages have moved 0.14% lower and 1.41% lower over the past week, respectively.

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.

Keywords: rebounders autodesk inc

Ticker(s): ADSK