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Archive - 4/5/2024 - Sign In to see current Signals. |
Adobe Systems (ADBE) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the Adobe Systems (ADBE). During the week, the ADBE dropped -19.48 points, or -3.86%, and closed at 485.12 on Friday, April 5, 2024. ADBE was trading at average weekly trading volume. ADBE is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See ADBE long-term trend chart] A long-term uptrend had started on September 27, 2022 at 274.73 and reached 638.25 on February 2, 2024. ADBE gained -363.52 points, or -132.32%, in 70 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (626.57) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ADBE may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend. Medium-term trend: [See ADBE medium-term trend chart] A medium-term downtrend had started on February 2, 2024 at 638.25 and reached 481.34 on April 5, 2024. ADBE lost 156.91 points, or 24.58%, in 9 weeks. Price is near the trend low. Weekly Technical Indicators: [See ADBE weekly technical indicators chart] Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help. The weekly MACD line is below its signal line since December 22, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help. Short-term trend: [See ADBE short-term trend chart] A short-term downtrend had started on March 13, 2024 at 585.35 and reached 481.34 on April 5, 2024. ADBE lost 104.01 points, or 17.77%, in 23 days. Price is near the trend low. Daily Technical Indicators: [See ADBE daily technical indicators chart] Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. The daily MACD line is below its signal line since March 14, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak. During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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Daily Oscillators |
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Weekly Oscillators |
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Trading
Signals |
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Sector and
Industry |
Description |
Name |
Rank |
Sector |
Information Technology |
8 |
Industry |
Application Software |
49 |
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Daily Trend |
Description |
Value |
Direction |
Down |
Chart Pattern |
DownTrend |
High |
585.35 |
High Date |
03/13/2024 |
Low |
481.34 |
Low Date |
04/05/2024 |
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Weekly Trend |
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Description |
Value |
Direction |
Down |
Chart Pattern |
DownTrend |
Status |
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Resistance |
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Support |
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High |
585.35 |
High Date |
03/13/2024 |
Low |
481.34 |
Low Date |
04/05/2024 |
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Description |
Value |
Direction |
Down |
Chart Pattern |
DownTrend |
Status |
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Resistance |
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Support |
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High |
638.25 |
High Date |
02/02/2024 |
Low |
481.34 |
Low Date |
04/05/2024 |
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Quarterly Trend |
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Description |
Value |
Direction |
Up |
Chart Pattern |
Rising Channel |
Status |
Broken Support |
Resistance |
697.95 |
Support |
626.57 |
Low |
274.73 |
Low Date |
09/27/2022 |
High |
638.25 |
High Date |
02/02/2024 |
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Description |
Value |
Direction |
Down |
Chart Pattern |
DownTrend |
Status |
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Resistance |
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Support |
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High |
699.54 |
High Date |
11/22/2021 |
Low |
274.73 |
Low Date |
09/27/2022 |
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