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Archive
- 9/8/2023 -
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Adobe Systems (ADBE) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Adobe Systems (ADBE). During the week, the ADBE gave back -2.85 points, or -0.51%, and closed at 560.36 on Friday, September 8, 2023. Weekly volume was -36% below 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 67.24% 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 570.24 on September 8, 2023. ADBE gained -295.51 points, or -107.56%, in 49 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See ADBE weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range. Weekly Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index, Lane's Stochastic and 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. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 11, 2022. This is an indication that the medium-term trend is up. 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 August 18, 2023 at 503.91 and reached 570.24 on September 8, 2023. ADBE gained -66.33 points, or -13.16%, in 21 days. The price is now at the 14.90% retracement level.
 Daily Technical Indicators: [See ADBE daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily Lane's Stochastic and MACD have bearish 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 bearish divergence.
The daily MACD line is above its signal line since August 28, 2023. This is an indication that the short-term trend is up.
 Candlestick pattern: [See ADBE candlestick chart pattern]
On Friday the chart has formed a Bearish Meeting Lines Candlestick pattern. This pattern appears in an uptrend and is a sign that a potential bearish reversal is in play. The reliability of the Bearish Meeting Lines Candlestick pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Meeting Lines Candlestick pattern during the last week.
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