| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 524.30 |
| Take Profit | 488.50 |
| Stop Loss | 530.00 |
| Key Levels | 425.00, 460.00, 466.00, 488.50, 534.00, 581.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 550.00 |
| Take Profit | 581.00 |
| Stop Loss | 540.00 |
| Key Levels | 425.00, 460.00, 466.00, 488.50, 534.00, 581.00 |
Shares of Adobe Inc., a leading American software developer, are trading in a corrective trend at 534.00.
On the daily chart, the price is reversing downwards above the resistance line of a narrow downward channel with dynamic boundaries of 425.00–466.00.
On the four-hour chart, the downward wave may continue as the quotes are approaching the end of the recent price gap of 526.00–459.00 and may soon begin to work it out. The global target is near the beginning of the gap at 460.00.
Technical indicators have given a sell signal: the EMA fluctuation range on the Alligator indicator is narrowing in the downward direction, and the AO histogram is forming downward bars in the sell zone.
Trading tips
Short positions may be opened after the price declines and consolidates below 524.30, with the target at 488.50. Stop loss is 530.00. Implementation period: 7 days or more.
Long positions may be opened after the price grows and consolidates above 550.00, with the target at 581.00. Stop loss is 540.00.
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