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

By Shiri Gupta

Adobe Systems (NASDAQ:ADBE) traded today at a new 52-week high of $144.33. So far today approximately 253,000 shares have been exchanged, as compared to an average 30-day volume of 2.8 million shares.

In the past 52 weeks, Adobe Systems share prices have been bracketed by a low of $71.27 and a high of $144.33 and are now at $143.94, 102% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.0%.

Based on a current price of $143.94, Adobe Systems is currently 14.5% 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 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 34.3%. 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