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SmarTrend Watching for Potential Pullback in Shares of Autodesk Inc After 1.03% Gain

By Shiri Gupta

Autodesk Inc (NASDAQ:ADSK) traded in a range yesterday that spanned from a low of $151.60 to a high of $154.06. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $151.73 on volume of 464,000 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 $101.55 and a high of $159.94 and are now at $152.20, which is 50% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.9%.

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