Note

Adobe Inc.: Murrey analysis

amking
· Views 11



Adobe Inc.: Murrey analysis
Scenario
TimeframeWeekly
RecommendationSELL STOP
Entry Point480.95
Take Profit468.75, 453.12, 437.50
Stop Loss491.00
Key Levels437.50, 453.12, 468.75, 484.38, 500.00, 531.25, 546.88
Alternative scenario
RecommendationBUY STOP
Entry Point500.05
Take Profit531.25, 546.88
Stop Loss487.00
Key Levels437.50, 453.12, 468.75, 484.38, 500.00, 531.25, 546.88

Current trend

Shares of Adobe Inc., a leading American software developer, are trading within a medium-term downward trend. The price rebounded from 578.12 (Murrey level [5/8]), entered the lower reversal zone of the Murrey trading range, and has been actively testing the 484.38 area (Murrey level [–1/8]) for the second week. Consolidation below will allow the quotes to reach the area of ​​468.75 (Murrey level [–2/8]), 453.12 (Murrey level [–2/8], H1), and 437.50 (Murrey level [2/8], W1). A breakout of 500.00 (Murrey level [0/8]), above the middle line of Bollinger bands, growth to the area of ​​531.25 (Murrey level [2/8]) and 546.88 (Murrey level [3/8]) may resume.

Technical indicators reflect that the downward trend will continue: Bollinger Bands are directed downwards, and the MACD histogram is stable in the negative zone. Stochastic is reversing upwards from the oversold zone, not excluding limited correction.

Support and resistance

Resistance levels: 500.00, 531.25, 546.88.

Support levels: 484.38, 468.75, 453.12, 437.50.

Adobe Inc.: Murrey analysis

Trading tips

Short positions may be opened from 481.00, with the targets of 468.75, 453.12, 437.50, and stop loss 491.00. Implementation period: 5–7 days.

Long positions may be opened above 500.00, with the targets of 531.25, 546.88, and stop loss 487.00.


Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.

Content related