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Look for Shares of Autodesk Inc to Potentially Pullback after Yesterday's 2.59% Rise

By James Quinn

Autodesk Inc (NASDAQ:ADSK) traded in a range yesterday that spanned from a low of $177.33 to a high of $177.92. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $173.93 on volume of 504,000 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 $177.33, 51% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.4%.

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