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TMCNet:  Upgrade Alert for Autodesk (ADSK)

[January 25, 2013]

Upgrade Alert for Autodesk (ADSK)

Jan 25, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Autodesk (NASDAQ:ADSK) was upgraded from Sell to Conviction Buy at Goldman Sachs today. The stock closed yesterday at $37.60 on volume of 3.3 million shares, above average daily volume of 2.2 million. Autodesk (NASDAQ:ADSK) is currently priced 4.9% above its average consensus analyst price target of $35.77. The stock should discover initial support at its 50-day moving average (MA) of $34.48 and subsequent support at its 200-day MA of $34.03.

Autodesk, Inc. supplies PC software and multimedia tools. The Company's two-dimensional and three-dimensional products are used across industries and in the home for architectural design, mechanical design, geographic information systems and mapping, and visualization applications. Autodesk's software products are sold worldwide through a network of dealers and distributors.

Autodesk share prices have moved between a 52-week high of $42.69 and a 52-week low of $27.70 and closed yesterday at 36% above that low price at $37.60 per share. The 200-day and 50-day moving averages have moved 0.21% lower and 1.04% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Autodesk on December 19th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.35. Since that recommendation, shares of Autodesk have risen 3.5%. 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 --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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