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Watch for Autodesk Inc to Potentially Pullback After Gaining 1.55% Yesterday

By Amy Schwartz

Autodesk Inc (NASDAQ:ADSK) traded in a range yesterday that spanned from a low of $148.04 to a high of $159.78. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $154.67 on volume of 1.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Autodesk Inc on July 29th, 2019 by issuing a Downtrend alert when the shares were trading at $164.66. Since that call, shares of Autodesk Inc have fallen 6.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, Autodesk Inc has traded in a range of $117.72 to $178.95 and is now at $156.74, 33% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 1%.

Keywords: rebounders autodesk inc

Ticker(s): ADSK