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Adobe Systems Incorporated Stock Forecast NASDAQ:ADBE

$649.96 (4.49%)

Volume: 4M

Closed: Dec 07, 2021

Hollow Logo Score: -2.360

Adobe Systems Incorporated Stock Forecast

$649.96 (4.49%)

Volume: 4M

Closed: Dec 07, 2021

Score Hollow Logo -2.360
Which way will ADBE go? Request
Earnings Date: Dec 16, 2021
Key Stats
P/E Ratio 53.03
Beta 1.29
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 45 and the stock is currently not being overbought or oversold

Green day on Tuesday for Adobe Systems Incorporated stock after gaining 4.49%
(Updated on Dec 07, 2021)


Sell candidate since 2021-12-07

The Adobe Systems Incorporated stock price gained 4.49% on the last trading day (Tuesday, 7th Dec 2021), rising from $622.04 to $649.96. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 2.37% from a day low at $640.05 to a day high of $655.22. The price has been going up and down for this period, and there has been a -3.51% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 807 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $2.49 billion.

The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.64% during the next 3 months and, with a 90% probability hold a price between $639.21 and $750.26 at the end of this 3-month period.

Signals & Forecast

Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Adobe Systems Incorporated stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $653.59 and $655.14. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, November 19, 2021, and so far it has fallen -5.58%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss

Adobe Systems Incorporated finds support from accumulated volume at $626.08 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $15.17 between high and low, or 2.37%. For the last week, the stock has had a daily average volatility of 4.39%.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is Adobe Systems Incorporated stock A Buy?

The Adobe Systems Incorporated stock holds several negative signals and despite the positive trend, we believe Adobe Systems Incorporated will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.360

Predicted Opening Price for Adobe Systems Incorporated of Wednesday, December 8, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price December 8, 2021 Current price
$648.41 $649.96 (Overvalued)
Sell Candidate Unchanged

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Analyst Ratings

On Nov 22, 2021 "Atlantic Securities" gave "$600.00 - $820.00" rating for ADBE. The price target was changed from $680.02 to 1.2%.

Volatility and Risk
Daily Average Volatility: 4.39 %
Overall Risk: Very High High Medium Low Very Low
Volatility
4.39 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $654.48
Price: $649.96
Support: $626.08

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 663.58 2.10 %
657.79 1.20 %
654.20 0.65 %
Current price: 649.96
Support 642.62 -1.13 %
639.03 -1.68 %
633.24 -2.57 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 688.37 5.91 %
669.85 3.06 %
654.48 0.70 %
Current price 649.96
Support 626.08 -3.67%
616.53 -5.14%
578.77 -10.95%

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About Adobe Systems Incorporated

Adobe Systemsorporated 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 segment’s flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products. This segment... Read more

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