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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 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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