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

By Nick Russo

Adobe Systems (NASDAQ:ADBE) traded today at a new 52-week high of $100.42. This new high was reached on below average trading volume as 171,000 shares traded hands, while the average 30-day volume is approximately 2.8 million shares.

Adobe Systems share prices have moved between a 52-week high of $100.42 and a 52-week low of $71.27 and are now trading 41% above that low price at $100.17 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.0%.

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.

Adobe Systems (NASDAQ:ADBE) is currently priced 8.2% above its average consensus analyst price target of $91.95. The stock should discover initial support at its 50-day moving average (MA) of $91.82 and subsequent support at its 200-day MA of $87.29.

SmarTrend recommended that subscribers consider buying shares of Adobe Systems on February 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $81.48. Since that recommendation, shares of Adobe Systems have risen 22.9%. 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