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Adobe Is in an Uptrend With Mixed Indicators

Bruce Kamich

was favored by Jim Cramer during the Lightning Round of his Mad Money program Tuesday night. The broad market turned weak in April and accelerated on the downside in May so let's double check the charts and indicators of ADBE before jumping in. In this daily bar chart of ADBE, below, we can see a small double bottom pattern in November/December followed by a rally to a new high at the end of April/beginning of May. Prices weakened during May as the broad market suffered.