The Greedy Trader Weekly Analysis
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Adobe Systems
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Summary:
Weekly :Broken trend resistance line
Daily :Bearish Three Inside Down CandlestickDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SAR
Move cursor over the icon to see details.

It was a first positive week for the Adobe Systems (ADBE). During the week, the ADBE gained 5.20 points, or 2.17%, and closed at 244.84 on Friday, November 09, 2018. It was the best weekly gain since September 28, 2018. ADBE was trading at average weekly trading volume.

Long-term trend: [See ADBE long-term trend chart]
A long-term uptrend had started on February 27, 2009 at 15.70 and reached 277.61 on September 14, 2018. ADBE gained -261.91 points, or -1668.22%, in 498 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (48.49) 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 long-term trend.

Medium-term trend: [See ADBE medium-term trend chart]
A medium-term downtrend had started on September 14, 2018 at 277.61 and reached 231.70 on October 30, 2018. ADBE lost 45.91 points, or 16.54%, in 6 weeks. The price is now at the 28.62% retracement level.

Weekly Technical Indicators: [See ADBE weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since June 29, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 October 30, 2018 at 231.70 and reached 254.13 on November 8, 2018. ADBE gained -22.43 points, or -9.68%, in 9 days. The price is now at the 41.42% retracement level.

Daily Technical Indicators: [See ADBE daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Candlestick pattern: [See ADBE candlestick chart pattern]
On Friday the chart has formed a Bearish Three Inside Down Candlestick pattern. The Bearish Three Inside Down pattern is another name for the Confirmed Bearish Harami pattern. This is a trend-reversal pattern indicating the start of a new downtrend. The reliability of the Bearish Three Inside Down pattern is very high. Use the Technical Stock Screener to see the list of stocks that had a Bearish Three Inside Down Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.06
Williams' Percentage Range (W%R) 47.50
Lane's Stochastic (%D-Slow) 61.66
Greed/Fear Indicator (GFI) 53.42
Moving Average Converg./Diverg. (MACD) -3.83
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.89
Williams' Percentage Range (W%R) 65.40
Lane's Stochastic (%D-Slow) 28.18
Greed/Fear Indicator (GFI) 37.34
Moving Average Converg./Diverg. (MACD) 10.39
Trading Signals
Description Value Chart
Upper Bollinger Band 261.09
50 Day Moving Average 256.63
Daily Stochastic Crossing 247.60
20 Day Moving Average 246.52
Weekly Stochastic Crossing 245.28
Price 244.84
Lower Bollinger Band 234.24
Parabolic System 233.24
Sector and Industry
Description Name Rank
Sector Technology 3
Industry Application Software 118
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 231.70
Low Date 10/30/2018
High 254.13
High Date 11/08/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 277.61
High Date 09/14/2018
Low 231.70
Low Date 10/30/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 71.27
Low Date 02/08/2016
High 277.61
High Date 09/14/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 22.67
Low Date 08/11/2011
High 277.61
High Date 09/14/2018
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 24.13
Support 48.49
Low 15.70
Low Date 02/27/2009
High 277.61
High Date 09/14/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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