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Advanced TA SearchArchive
- 5/10/2024 -
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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 gave back -3.89 points, or -0.80%, and closed at 482.29 on Friday, May 10, 2024. Weekly volume was -28% below average.
 Long-term trend: [See ADBE long-term trend chart]
A long-term uptrend had started on September 27, 2022 at 274.73 and reached 638.25 on February 2, 2024. ADBE gained -363.52 points, or -132.32%, in 70 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (650.18) is broken. A broken support is considered to be a long-term bearish 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 support in a long-term trend.
 Medium-term trend: [See ADBE medium-term trend chart]
A medium-term downtrend had started on February 2, 2024 at 638.25 and reached 460.36 on May 1, 2024. ADBE lost 177.89 points, or 27.87%, in 12 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 450.89 and resistance is at 505.02. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See ADBE weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Williams' Percentage Range or strongly oversold weekly Lane's Stochastic. 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 below its signal line since December 22, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. 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 May 1, 2024 at 460.36 and reached 496.76 on May 7, 2024. ADBE gained -36.40 points, or -7.91%, in 6 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See ADBE daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since April 15, 2024. This is an indication that the short-term trend is up.
A Parabolic SAR (stop and reversal) indicator (480.06) comes close to the price (482.29). It indicates that the trend is getting weaker. 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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 6.93% on Friday. It is 52.76% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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