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Shares of Adobe Systems Has Risen Above Previous 52-Week High

By Nick Russo

Shares of Adobe Systems (NASDAQ:ADBE) traded today at $147.45, breaking its 52-week high. Approximately 2.5 million shares have changed hands today, as compared to an average 30-day volume of 2.8 million shares.

Based on a current price of $145.80, Adobe Systems is currently 15.6% above its average consensus analyst price target of $123.12. Adobe Systems shares have support at the 50-day moving average (MA) of $91.82 and additional support at the 200-day MA of $87.29.

In the past 52 weeks, shares of Adobe Systems have traded between a low of $71.27 and a high of $147.45 and are now at $145.80, which is 105% 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%.

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 is monitoring the recent change of momentum in Adobe Systems. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Adobe Systems in search of a potential trend change.

Keywords: 52 week high/lows adobe systems

Ticker(s): ADBE