Adobe Systems Incorporated(ADBE) is in an downtrend but momentum is showing some life

(29-Feb-2008) (29-Feb-2008) Adobe Systems Incorporated(ADBE) closed at 35.34, down -0.12 or -0.34 % today. Based on our analysis, Adobe Systems Incorporated(ADBE) is in an downtrend but momentum is showing some life.

The closing price of Adobe Systems Incorporated(ADBE) is below its 50 day moving average of 37.29 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) above the signal line(Dark Red Line) tells us that Adobe Systems Incorporated(ADBE) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 11-Feb-2008, about 14 trading days ago.