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Archive
- 5/26/2023 -
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Adobe Systems (ADBE) |
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second positive week after 6 consecutive negative weeks for the Adobe Systems (ADBE). During the week, the ADBE gained 44.14 points, or 11.89%, and closed at 415.39 on Friday, May 26, 2023. Weekly volume was 43% above average.
ADBE is a member of Information Technology Sector. Information Technology is the 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 downtrend had started on November 22, 2021 at 699.54 and reached 274.73 on September 27, 2022. ADBE lost 424.81 points, or 60.73%, in 44 weeks. The price is now at the 33.11% retracement level.
 Medium-term trend: [See ADBE medium-term trend chart]
A medium-term uptrend had started on September 27, 2022 at 274.73 and reached 416.36 on May 26, 2023. ADBE gained -141.63 points, or -51.55%, in 34 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (338.33) 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 medium-term trend.
 Weekly Technical Indicators: [See ADBE weekly technical indicators chart]
Weekly technical indicators are neutral. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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.
The weekly MACD line is above its signal line since November 11, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 May 12, 2023 at 331.91 and reached 416.36 on May 26, 2023. ADBE gained -84.45 points, or -25.44%, in 14 days. Price is near the trend high.
 Daily Technical Indicators: [See ADBE daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Lane's Stochastic. Daily Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bearish divergence. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is above its signal line since May 17, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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