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Autodesk Inc Set to Possibly Pullback After Yesterday's Rally of 2.89%

By Nick Russo

Autodesk Inc (NASDAQ:ADSK) traded in a range yesterday that spanned from a low of $130.94 to a high of $133.64. Yesterday, the shares gained 2.9%, which took the trading range above the 3-day high of $133.55 on volume of 542,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Autodesk Inc has traded in a range of $49.82 to $141.26 and is now at $133.04, 167% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.4%.

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