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Adobe Systems: 52-Week High Recently Eclipsed (ADBE)

By James Quinn

Adobe Systems (NASDAQ:ADBE) traded today at a new 52-week high of $136.19. So far today approximately 262,000 shares have been exchanged, as compared to an average 30-day volume of 2.8 million shares.

Adobe Systems (NASDAQ:ADBE) is currently priced 9.3% above its average consensus analyst price target of $123.12. The stock should find initial support at its 50-day moving average (MA) of $91.82 and further support at its 200-day MA of $87.29.

Adobe Systems share prices have moved between a 52-week high of $136.19 and a 52-week low of $71.27 and are now trading 91% above that low price at $135.82 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.3%.

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.

SmarTrend recommended that subscribers consider buying shares of Adobe Systems on January 6th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $106.84. Since that recommendation, shares of Adobe Systems have risen 26.9%. We continue to monitor ADBE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows adobe systems

Ticker(s): ADBE