TwinTrader.com announces the publication of Breakout for ADSK; highlighting public companies on the move and what’s behind the surge.
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“Autodesk Inc. operates as a design software and service company. Its Design Solutions segment offers AutoCAD, a computer-aided design application for 2D drafting, detailing, design documentation and basic 3D visualization; AutoCAD LT software that is used for 2D drafting and detailing; and AutoCAD Map 3D software, which provides mapping functionality to engineers and geospatial professionals…
“The stock climbed about 12%, advancing $4.33 to $38.68 per share by 11 a.m. Eastern Time. The company’s shares broke through resistance and reached their highest level since mid-June …
“The RSI is still reading neutral; while the MACD is reading continued bullish momentum. Buyers may want to wait for a pullback to the breakout level of $36 before jumping in. A break above the 200-day MA may also create additional short squeezes in the stock. Resistance will be met at the $41 level...”
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