Adobe Systems (ADBE) Stock Is the 'Chart of the Day'

NEW YORK (TheStreet) -- Shares of Adobe Systems (ADBE) were up 0.85% to $84.26 in midday trading Wednesday.

The software company recently released the 2015 version of its flagship Creative Cloud tools and services with new mobile applications.

Additionally, the company launched stock photo service Adobe Stock, after acquiring stock agency Fotolia

San Jose, Calif.-based Adobe Systems is a diversified software company that offers a line of products and services used by creative professionals, marketers, knowledge workers, application developers, enterprises and consumers.

The company's business is organized into three segments including digital marketing, digital media, and print and publishing.

Insight from TheStreet's Research Team:

Bryan Ashenberg and Bob Lang have identified Adobe Systems as the Chart of the Day. Here is what Ashenberg and Lang had to say about the stock's chart:

Adobe Systems has been around for a long time, which is a testament to its unique products and positioning. Its software, some of which is free to users, is world-class, and the company easily competes with some of the biggest brands in the technology sector, including Oracle (ORCL), Microsoft (MSFT) and SAP (SAP).

One of their advantages is that they know the cloud is their future, and they are making the transition pay off. Their earnings report last week confirmed that their growth prospects are solid.

However, after last week's earnings report, their stock dipped when the "hot money" fled. That set up a nice entry point for options traders. The stock moved sideways and then exploded to a new all-time high on Monday, June 22. Apparently, the stockholders last week were not watching the technicals.

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