Adobe’s stock (NASDAQ
Although the tech stocks have struggled in 2022 due to tough macroeconomic conditions, the recent stock drop was driven by the announcement of the Adobe
Now, is ADBE stock set to drop further, or could we expect some recovery? We believe that there is a more than 90% chance of a rise in ADBE stock over the next month (21 trading days) based on our machine-learning analysis of trends in the stock price over the last ten years. See our analysis on Adobe’s Stock Chance of Rise.
Twenty-One Day: ADBE -30.4%, vs. S&P500 -8.4%; Underperformed market
- Adobe stock lost 30.4% over the last twenty-one trading days (one month), compared to a broader market (S&P500) decrease of 8.4%
- A change of -30.4% or more over twenty-one trading days has occurred zero times in the last ten years.
Ten Day: ADBE -24.6%, vs. S&P500 -4.8%; Underperformed market
- Adobe stock decreased 24.6% over the last ten trading days (two weeks), compared to broader market (S&P500) loss of 4.8%
- A change of -24.6% or more over ten trading days has occurred zero times in the last ten years.
Five Day: ADBE -22.9%, vs. S&P500 -4%; Underperformed market
- Adobe stock lost 22.9% over a five-day trading period ending 09/21/2022, compared to the broader market (S&P500) decrease of 4%
- A change of -22.9% or more over five trading days (one week) has occurred zero times in the last ten years
Alternate Scenario – Twenty-One Day: ADBE -20%
(less than 1% probability event; more than 90% probability of rise over next 21 days)
- A change of -20% or more over twenty-one trading days is a less than 1% probability event, which has occurred six times in the last ten years
- Of these six instances, the stock has seen a positive movement over the next twenty-one trading days on all the six occasions
- This points to a more than 90% probability for the stock rising over the next twenty-one trading days
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