Adobe Systems Crosses Below its 10-day MA (ADBE)
Adobe Systems (NASDAQ:ADBE) shares have crossed bearishly below their 10-day moving average of $108.63 on a volume of 280K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
Adobe Systems share prices have moved between a 52-week high of $111.09 and a 52-week low of $71.27 and are now trading 52% above that low price at $108.22 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.0%.
SmarTrend recommended that subscribers consider buying shares of Adobe Systems on July 15th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $97.95. Since that recommendation, shares of Adobe Systems have risen 11.3%. 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