Autodesk Set to Possibly Pullback After Yesterday's Rally of 1.12%
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[February 14, 2012]

Autodesk Set to Possibly Pullback After Yesterday's Rally of 1.12%

Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) -- Autodesk (NASDAQ:ADSK) traded in a range yesterday that spanned from a low of $38.14 to a high of $38.84. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $38.61 on volume of 1.3 million 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 have traded between a low of $22.99 and a high of $46.15 and are now at $38.80, which is 69% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Autodesk on January 17th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.49. Since that recommendation, shares of Autodesk have risen 18.1%. We continue to monitor ADSK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.


Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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