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Downtrend Broken Resist.Archive
- 7/19/2024 -
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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 dropped -8.05 points, or -1.44%, and closed at 551.00 on Friday, July 19, 2024. Weekly volume was -34% below average.
 Long-term trend: [See ADBE long-term trend chart]
A long-term downtrend had started on February 2, 2024 at 638.25 and reached 433.97 on May 31, 2024. ADBE lost 204.28 points, or 32.01%, in 17 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (392.50) is broken. A broken support is considered to be a long-term bullish signal. 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 uptrend had started on May 31, 2024 at 433.97 and reached 580.55 on July 5, 2024. ADBE gained -146.58 points, or -33.78%, in 5 weeks. The price is now at the 20.16% retracement level.
 Weekly Technical Indicators: [See ADBE weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 and Williams' Percentage Range help.
The weekly MACD line is above its signal line since June 21, 2024. 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 downtrend had started on July 5, 2024 at 580.55 and reached 548.96 on July 19, 2024. ADBE lost 31.59 points, or 5.44%, in 14 days. The price is now at the 6.46% retracement level.
 Daily Technical Indicators: [See ADBE daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since July 11, 2024. This is an indication that the short-term trend is down.
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