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Adobe Sys Inc Looks to Continue to Trade Above its Annual-High Share Price Today

By James Quinn

Adobe Sys Inc (NASDAQ:ADBE) traded at a new 52-week high today of $274.84. Approximately 1.8 million shares have changed hands today, as compared to an average 30-day volume of 2.5 million shares.

Adobe Systems Incorporated develops, markets, and supports computer software products and technologies. The Company's products allow users to express and use information across all print and electronic media. Adobe offers a line of application software products, type products, and content for creating, distributing, and managing information.

Over the past year, Adobe Sys Inc has traded in a range of $143.95 to $274.84 and is now at $274.69, 91% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.7%.

Based on a current price of $274.69, Adobe Sys Inc is currently 9.5% above its average consensus analyst price target of $248.64. The stock should discover initial support at its 50-day moving average (MA) of $256.25 and subsequent support at its 200-day MA of $224.36.

SmarTrend is tracking the current trend status for Adobe Sys Inc and will alert subscribers who have ADBE in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows adobe sys inc

Ticker(s): ADBE