Adobe Systems Crosses Above its 10-day MA (ADBE)
Today, shares of Adobe Systems (NASDAQ:ADBE) have crossed bullishly above their 10-day moving average of $97.41 on a volume of 884K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.
Adobe Systems share prices have moved between a 52-week high of $100.56 and a 52-week low of $71.27 and are now trading 38% above that low price at $98.00 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%.
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 17.3%. We continue to monitor ADBE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses adobe systems