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Autodesk Inc Set to Possibly Pullback After Yesterday's Rally of 4.71%

By Nick Russo

Autodesk Inc (NASDAQ:ADSK) traded in a range yesterday that spanned from a low of $146.72 to a high of $151.90. Yesterday, the shares gained 4.7%, which took the trading range above the 3-day high of $149.09 on volume of 724,000 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 $117.72 to $178.95 and is now at $151.55, 29% above that low. The 200-day and 50-day moving averages have moved 0.30% higher and 0.82% lower over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Autodesk Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Autodesk Inc in search of a potential trend change.

Keywords: rebounders autodesk inc

Ticker(s): ADSK