ADOBE INC.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 485.00 |
| Take Profit | 437.00 |
| Stop Loss | 500.00 |
| Key Levels | 437.00, 485.00, 499.00, 500.00, 510.00, 533.00, 571.00, 650.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 523.00 |
| Take Profit | 571.00 |
| Stop Loss | 510.00 |
| Key Levels | 437.00, 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.
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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