by winston » Fri May 22, 2015 7:27 am
not vested
4 Computer Stocks With Bullish Charts: Adobe Systems Incorporated (ADBE)
Adobe Systems Incorporated (NASDAQ:ADBE) has had a great couple of weeks, and the chart’s shown plenty of bullish signals in that time. One of the latest was on May 15, when ADBE made a Double Moving Average Crossover.
With so much day-to-day volatility in the market, it can be hard to tell when a stock is in a true up- or downtrend — and that’s where moving averages come in handy.
When a faster moving average (in this case, the 21-day) crosses above a slower moving average (the 50-day), it suggests that the stock is in an established uptrend.
When interpreting moving averages, pay close attention to the time frame used. Since these two are plotted over a shorter-term period, this is a near-term bullish signal.
Also on May 15, Adobe gave another short-term bullish signal via its Momentum indicator. In the above chart, you can see the indicator pushing significantly above its flatline, which means the stock price has picked up steam compared to the price 10 bars prior.
Basically, this tells us that ADBE’s uptrend is a strong one … further support of the Profit Scanner’s bullish thesis.
Source: Investor Place
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