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

By Shiri Gupta

Shares of Adobe Systems (NASDAQ:ADBE) traded today at $101.26, breaking its 52-week high. So far today approximately 303,000 shares have been exchanged, as compared to an average 30-day volume of 2.8 million shares.

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 9.1% 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.

Adobe Systems share prices have moved between a 52-week high of $101.26 and a 52-week low of $71.27 and are now trading 42% above that low price at $101.11 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%.

SmarTrend is tracking the current trend status for Adobe Systems and will alert subscribers who have ADBE in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows adobe systems

Ticker(s): ADBE