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Stock Investors Sell Off Shares of Adobe Systems, Down 1.4%

Published on Fri, 01/11/2013 - 11:26
By Adrienne Chilton

One of today's notable stocks in decline is Adobe Systems (NASDAQ:ADBE), down 1.4% to $38.06. The Dow is trading fractionally lower to 13,467 and the S&P is currently trading fractionally lower to 1,470.

Adobe Systems share prices have moved between a 52-week high of $38.78 and a 52-week low of $28.44 and are now trading 34% above that low price at $38.06 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has risen 0.3%.

Adobe Systems Incorporated develops, markets, and supports computer software products and technologies. The Company's products allow users to express and use information across all print and electronic media. Adobe offers a line of application software products, type products, and content for creating, distributing, and managing information.

Adobe Systems has overhead space with shares priced $38.06, or 0.8% below the average consensus analyst price target of $38.38. The stock should find initial support at its 50-day moving average (MA) of $35.36 and further support at its 200-day MA of $33.10.

By Adrienne Chilton
achilton@fnno.com