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Recent 52-Week High Exceeded in Shares of Adobe Sys Inc (ADBE)

By David Diaz

Shares of Adobe Sys Inc (NASDAQ:ADBE) traded at a new 52-week high today of $154.73. Approximately 187,000 shares have changed hands today, as compared to an average 30-day volume of 2.8 million shares.

There is potential upside of 2.8% for shares of Adobe Sys Inc based on a current price of $154.59 and an average consensus analyst price target of $158.94. 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.

In the past 52 weeks, Adobe Sys Inc share prices have been bracketed by a low of $90.35 and a high of $154.73 and are now at $154.59, 71% above that low price. The 200-day and 50-day moving averages have moved 0.27% higher and 0.96% higher over the past week, respectively.

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 Sys Inc on June 21st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $145.10. Since that recommendation, shares of Adobe Sys Inc have risen 5.9%. 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 sys inc

Ticker(s): ADBE