ADBE closes higher for the 3rd day in a row


Adobe Systems Inc (ADBE) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
ADBE closes higher for the 3rd day in a row
ADBE pushes through previous session high
ADBE rises to highest close since Inception
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, ADBE finished Thursday at 258.10 gaining $1.97 (0.77%) on high volume. Today's closing price of 258.10 marks the highest close since Inception. Closing above Wednesday's high at 257.90, the stock confirms its breakout through the prior session's high having traded $1.01 above it intraday.

Daily chart for ADBE
Volatility

Thursday's trading range was $2.33 (0.91%), that's far below last trading month's daily average range of $4.41. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to a key support level at 254.72.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bullish.

Market Conditions for Adobe Systems Inc
Condition Forecast Direction Win Avg Worst Best Events
3 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
Bullish Hikkake Pattern TQ Pro Members Only
More market conditions identified for TQ Pro members...
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