The Relative Strength (RS) Rating for Autodesk jumped into a new percentile Friday, with an increase from 80 to 83.
This exclusive rating from Investor's Business Daily identifies share price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
History shows that the market's biggest winners typically have an RS Rating north of 80 in the early stages of their moves.
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Autodesk is working on a flat base with a 326.62 buy point. See if it can break out in heavy trading. Be aware that it's a third-stage base. Later-stage patterns can work, but have a higher chance of failing since, by that point, the stock has already risen significantly..
Autodesk posted 5% earnings growth last quarter. Sales increased 11%.
The company earns the No. 2 rank among its peers in the Computer Software-Design industry group. Altair Engineering Cl A is the No. 1-ranked stock within the group.
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