Daily Comments
Autodesk: Upside in the Offing
27.01.2012 10:53:00 Natalya Malykh, Leading Analyst, Global Markets (Finam)
After a downturn there have been some signs pointing to upside in Autodesk (ISIN: US0527691069). During the consolidation streak a cup with handle, a model for the extension of a trend, shaped up, and yesterday the stock breached the resistance level. An additional upside driver is that the stock breached SMA 200 on heavy volume and held above SMA 200:
Source: Reuters
Over the next three months we expect the stock to surge to USD 40.00 where it could face fairly strong resistance:
Source: Reuters
