Current trend

Shares of Adobe Inc., a leading American software developer, are correcting at 476.00.

Management announced the modernization of the Adobe Premiere Pro program, which uses a generative artificial intelligence (AI) model to create and edit videos, which will greatly speed up the work process and allow it to compete with other similar offers. The launch of the updated service is planned this year. Adobe Inc. also announced the release of a new version of the popular platform Frame.io V4 designed for work with graphic elements: it has more significant integration with Creative Cloud and will be available to users starting in May.

On March 14, the emitter's financial report for the first quarter was published: revenue increased from 5.05 billion dollars to 5.18 billion dollars, and earnings per share (EPS) amounted to 4.48 dollars, up from 4.27 dollars earlier. New statistics will appear only on June 13, and so far preliminary estimates suggest revenue growth to 5.29 billion dollars, partly owing to the launch of new services.

Support and resistance

On the В1 chart, the asset is trading in a lateral trend, still holding in the area of the channel support line with the borders of 530.00–450.00.

Technical indicators hold the downward signal, practically excluding the possibility of price growth: fast EMAs on the Alligator indicator are below the signal line, and the AO histogram is trading in the negative zone, forming new correction bars.

Support levels: 468.00, 418.00.

Resistance levels: 492.00, 538.00.

Trading tips

If the asset continues to decline and the price consolidates below the support level of 468.00, one can open short positions with the target of 418.00 and stop-loss of 500.00. Implementation time: 7 days and more.

If the local growth of the asset continues and the price consolidates above the resistance level of 492.00, one may open long positions with the target of 538.00 and stop-loss of 475.00.