Adobe Systems Inc. (ADBE/NASD): general analysis
Adobe Systems Inc. (ADBE/NASD): general analysis
13 February 2019, 13:57
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 262.00 |
| Take Profit | 272.00, 280.00, 285.00 |
| Stop Loss | 258.65, 252.00 |
| Key Levels | 228.00, 238.00, 250.00, 262.00, 269.00, 276.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 249.00 |
| Take Profit | 235.00, 225.00 |
| Stop Loss | 260.00 |
| Key Levels | 228.00, 238.00, 250.00, 262.00, 269.00, 276.00 |
Current trend
Yesterday, Adobe shares consolidated at a new 4-month high, continuing to rise from the December 52-week low. At the moment, the issuer quotes are trading at a discount of 5% to a 52-week high of October 1. Previously, the company acquired Allegorithmic, a French developer of Substance instruments, which are widely used by animators and game makers.
During the last week, Adobe grew by 2.57% against the growth of S&P 500 index by 0.22%.
Support and resistance
The shares of the company are dominated by "bullish" moods. Yesterday, the issuer renewed the year’s highs. At the moment, #ADBE quotes are testing a key resistance of 262.00. The level of 250.00 acts as a “mirror” support. There is potential for further growth. Indicators reflect the strength of buyers: the price is fixed above the MA (50) and MA (200); MACD histogram is in the positive zone and continues to rise. It is better to open the positions from the key levels.
A comparative analysis of company multipliers and competing companies in the industry indicates the neutrality of #ADBE.
Resistance levels: 262.00, 269.00, 276.00.
Support levels: 250.00, 238.00, 228.00.
Trading tips
Long positions can be opened after the price is fixed above the level of 262.00. The closing of the profitable positions is possible at the levels of 272.00, 280.00 and 285.00. Stop loss is 252.00.
Short positions can be opened after the price is set below the level of 250.00 with the targets at 235.00–225.00. Stop loss is 260.00.
Implementation period: 3 days.
Yesterday, Adobe shares consolidated at a new 4-month high, continuing to rise from the December 52-week low. At the moment, the issuer quotes are trading at a discount of 5% to a 52-week high of October 1. Previously, the company acquired Allegorithmic, a French developer of Substance instruments, which are widely used by animators and game makers.
During the last week, Adobe grew by 2.57% against the growth of S&P 500 index by 0.22%.
Support and resistance
The shares of the company are dominated by "bullish" moods. Yesterday, the issuer renewed the year’s highs. At the moment, #ADBE quotes are testing a key resistance of 262.00. The level of 250.00 acts as a “mirror” support. There is potential for further growth. Indicators reflect the strength of buyers: the price is fixed above the MA (50) and MA (200); MACD histogram is in the positive zone and continues to rise. It is better to open the positions from the key levels.
A comparative analysis of company multipliers and competing companies in the industry indicates the neutrality of #ADBE.
Resistance levels: 262.00, 269.00, 276.00.
Support levels: 250.00, 238.00, 228.00.
Trading tips
Long positions can be opened after the price is fixed above the level of 262.00. The closing of the profitable positions is possible at the levels of 272.00, 280.00 and 285.00. Stop loss is 252.00.
Short positions can be opened after the price is set below the level of 250.00 with the targets at 235.00–225.00. Stop loss is 260.00.
Implementation period: 3 days.
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