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|It was a second consecutive positive week for the Adobe Systems (ADBE). During the week, the ADBE gained 9.62 points, or 3.89%, and closed at 257.00 on Friday, February 8, 2019. Weekly volume was -14% below average. |
Long-term trend: [See ADBE long-term trend chart]
A long-term uptrend had started on August 11, 2011 at 22.67 and reached 277.61 on September 14, 2018. ADBE gained -254.94 points, or -1124.57%, in 370 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (126.01) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 resistance line in a long-term trend.
Medium-term trend: [See ADBE medium-term trend chart]
A medium-term downtrend had started on September 14, 2018 at 277.61 and reached 204.95 on December 24, 2018. ADBE lost 72.66 points, or 26.17%, in 14 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (202.03) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ADBE may retest the broken resistance line. It is considered to be a support 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 resistance line in a medium-term trend.
Weekly Technical Indicators: [See ADBE weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.
Short-term trend: [See ADBE short-term trend chart]
A short-term uptrend had started on December 24, 2018 at 204.95 and reached 258.56 on February 5, 2019. ADBE gained -53.61 points, or -26.16%, in 43 days. Price is near the trend high.
Daily Technical Indicators: [See ADBE daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. 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 link to access Lane's Stochastic help.
The daily MACD line is above its signal line since January 3, 2019. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.