ADOBE INC.: TECHNICAL ANALYSIS

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ADOBE INC.: TECHNICAL ANALYSIS
Scenario
TimeframeWeekly
RecommendationSELL STOP
Entry Point485.00
Take Profit437.00
Stop Loss500.00
Key Levels437.00, 485.00, 499.00, 500.00, 510.00, 533.00, 571.00, 650.00
Alternative scenario
RecommendationBUY STOP
Entry Point523.00
Take Profit571.00
Stop Loss510.00
Key Levels437.00, 485.00, 499.00, 500.00, 510.00, 533.00, 571.00, 650.00

Shares of Adobe Inc., a leading American software developer, are moving in a corrective trend at 499.00.

On the daily chart, the price is declining, having left the ascending corridor with dynamic boundaries of 650.00–533.00.

On the four-hour chart, the current downward wave may continue since the exit from the channel took place with a price gap of 571.00–500.00, which is unlikely to be closed, and the quotes are near the year’s low of 485.00.

Technical indicators are holding a sell signal: the EMA fluctuation range on the Alligator indicator is expanding downward, and the AO histogram is forming downward bars in the sales zone.

ADOBE INC.: TECHNICAL ANALYSIS

Trading tips

Short positions may be opened after the price declines and consolidates below 485.00, with the target at 437.00. Stop loss – 500.00. Implementation period: 7 days or more.

Long positions may be opened after the price rises and consolidates above 523.00, with the target at 571.00. Stop loss – 510.00.


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