ADBE closes within previous day's range


Adobe Systems Inc (ADBE) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team

Highlights

ADBE closes below its opening price unable to hold early session gains
ADBE closes within previous day's range
ADBE ends the day indecisive

Overview

ADBE finished Thursday at 236.85 losing $0.54 (-0.23%) on low volume. Trading $2.34 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (ADBE as at May 17, 2018):

Daily technical analysis candlestick chart for Adobe Systems Inc (ADBE) as at May 17, 2018

Thursday's trading range was $4.77 (2.01%), that's slightly below last trading month's daily average range of $5.26. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.

In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bearish Outside Bar. After moving higher in the prior session, the stock closed lower but above the previous day's open today, forming a bearish Harami Candle.

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

Selling could accelerate should prices move below the nearby swing low at 233.00 where further sell stops might get activated.


Market Conditions for ADBE as at May 17, 2018

Loading Market Conditions for ADBE (Adobe Systems Inc)...
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