Adobe Systems (ADBE) Emerges As Top Technical Trading Idea

adbe adobe stock forecast bullish higher august investing chart image

Adobe Systems NASDAQ: ADBE “daily” Stock Chart

One of our top technical trading ideas right now is Adobe Systems (ADBE) which closed Friday at $444.32.

ADBE is in a technical uptrend, above the rising 20, 50, 100 and 200-day moving averages.

This indicates a strong uptrend on multiple time frames.

Adobe Systems is a mega cap software leader, and is positioned for a move higher after a recent 7.3% pullback within it’s uptrend.

The rising 50-day simple moving average at $421.45 is near term support. Below that is $415 and $400 on any further pullbacks.

Larry is the publisher of the Blue Chip Daily Trend Report.

Twitter:  @LMT978

The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.