Will Adobe Make New All-Time Highs?
C = Catalyst for a Stock’s Movement
Adobe operates as a diversified software company worldwide. It offers a line of software and services used by creative professionals, marketers, knowledge workers, application developers, enterprises, and consumers. With the increased adoption of its products, the company has the resources to engage with users across the globe.
T = Technicals on the Stock Chart are Strong
Adobe is one of the few technology names that is trading near its highs. The stock has displayed a beautiful uptrend that extends back to 2002. Currently, it is setting up to take on previous resistance near $48 per share. Key simple moving averages can provide insight into the trend and strength of the trend. What are the key moving averages? The 50-day, 100-day, and 200-day simple moving averages. Adobe is trading above its rising key averages, which signals a strong uptrend.