Adobe Systems Incorporated (NASDAQ: ADBE) shares fell on Friday January 13 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, The Dow Jones Industrial Average DJIA, -0.03% slipped 5.27 points to close 19,885.73, moving in a roughly 100-point range all session. For the week, the blue-chip index is off 0.4%.
U.S. financial markets will be closed Monday for Martin Luther King Jr. Day.
The S&P 500 index SPX, +0.18% added 4.20 points, or 0.2%, to end at 2,274.64 for a weekly loss of 0.1%, and the Nasdaq Composite Index COMP, +0.48% climbed 26.63 points, or 0.5%, to finish at 5,574.12, its sixth all-time closing high in seven trading sessions.
Adobe Systems Incorporated (NASDAQ: ADBE) had its Hold rating reiterated by equities researchers at Pivotal Research in a research note to investors. With a rating of Hold on the stock, the company has a 52-week high of $111.09. A number of other analysts have spoken on the company recently, and the company has earned a consensus one-year price target of $122.76, higher than the opening price of $108.84. Stock prices sometimes get a bounce to the upside when analysts reiterate coverage.
Shares of Adobe Systems Incorporated (NASDAQ: ADBE) opened at $108.84 yesterday and traded in a range between, $107.98 and $108.90, and last traded at $108.53, which is a dip of $0.06 from the previous closing price.
Adobe Systems Incorporated (NASDAQ: ADBE) now has a market cap of 53.79B.
Adobe Systems Incorporated (NASDAQ: ADBE) Average Daily Trading Volume
The stock’s average daily volume is 2,490,670 shares out of a total float 493,926,000 and some 1,594,154 shares crossed the trading desk yesterday, 74 percent below normal. lower than normal. Look for trading volume to pick up in the coming days as investors often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain teams of analysts that investigate thousands of stocks, so it is good corroboration to see them taking a postion in a stock you’re researching.
Adobe Systems Incorporated (NASDAQ: ADBE) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, Adobe Systems Incorporated (NASDAQ: ADBE) now has a 50-day MA of $104.26 and 200-day MA of $102.65. It has traded in a 52-week range between $71.27 – 111.09 and today’s last price is 2.30%% lower than the 52 week high of $111.09.
Earnings growth is a critical factor to research when investing in stocks and investors seek companies that have raised their earnings by at least 25% over a 3 year period.
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