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Shares of Adobe Sys Inc Has Risen Above Previous 52-Week High

By James Quinn

Adobe Sys Inc (NASDAQ:ADBE) traded at a new 52-week high today of $255.45. Approximately 781,000 shares have changed hands today, as compared to an average 30-day volume of 2.5 million shares.

Adobe Sys Inc (NASDAQ:ADBE) defies analysts with a current price ($254.74) 2.4% above its average consensus price target of $248.64. The stock should find initial support at its 50-day moving average (MA) of $234.13 and further support at its 200-day MA of $194.85.

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.

Over the past year, Adobe Sys Inc has traded in a range of $131.20 to $255.45 and is now at $254.74, 94% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Adobe Sys Inc on May 7th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $230.69. Since that recommendation, shares of Adobe Sys Inc have risen 9.5%. 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