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Watch for Shares of Adobe Sys Inc (ADBE) to Approach Resistance at $256.51

By Nick Russo

Shares of Adobe Sys Inc (NASDAQ:ADBE) have bullishly opened above the pivot of $252.84 today and have reached the first resistance level of $254.55. Investors may be interested in a cross of the next upside pivot targets of $256.51 and $260.18.

Adobe Sys Inc share prices have moved between a 52-week high of $255.45 and a 52-week low of $131.20 and are now trading 94% above that low price at $254.74 per share. Over the past week, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 1.0%.

Based on a current price of $254.74, Adobe Sys Inc is currently 2.4% above its average consensus analyst price target of $248.64. The stock should discover initial support at its 50-day moving average (MA) of $234.13 and subsequent support at its 200-day MA of $194.85.

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: pivot alerts adobe sys inc

Ticker(s): ADBE