Between its Flash technology and extensive cloud offerings, Adobe Systems is one of Silicon Valley’s largest and most successful tech companies. Like many survivors of the dot.com era, the company has smartly transformed itself to meet the needs of the 21st century. From the looks of their chart, they have been right on the mark.
The stock has performed admirably against its peers, and it managed to hit a new all time high on Monday with some good volume to boot. After bottoming in June (when the Brexit was announced), Adobe has put on a marvelous performance, notching higher highs and higher lows along the way.
The gap higher in September was massive on great turnover, but recent bull retests (marked by arrows) make this stock a tough one to get on board with. I always say the best trends are the toughest to join, and this is the case here. However, the run may not be over yet. We could see this move up again with some followthrough toward the 120 area before stalling out.
Adobe Systems (Nasdaq: ADBE) Video Chart Analysis
Take a deeper dive into the chart action on tech stock Nasdaq: ADBE and learn how to read the technicals. Get Bob Lang’s full analysis as he marks up our chart of the week.
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About Adobe Systems
Adobe Systems Incorporated operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. This segments flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products. This segment serves traditional content creators, Web application developers, and digital media professionals, as well as their management in marketing departments and agencies, companies, and publishers. The companys Digital Marketing segment offers solutions for how digital advertising and marketing are created, managed, executed, measured, and optimized. This segment provides analytics, social marketing, targeting, media optimization, digital experience management, cross-channel campaign management, and audience management solutions, as well as video delivery and monetization to digital marketers, advertisers, publishers, merchandisers, Web analysts, chief marketing officers, chief information officers, and chief revenue officers.
