Current trend

Shares of Adobe Inc., a leading American software developer, have stabilized after a three-month decline and have been trading for the third week in a sideways range of 500.00–468.75 (Murrey level [4/8]-[2/8]): the quotes are trying to overcome its lower limit to reach area 437.50 (Murrey level [0/8]) and 406.25 (Murrey level [–2/8]). A consolidation above the key “bullish” Murrey’s trading range of 500.00 (Murrey level [4/8]) will cause the asset to return to the area of ​​531.25 (Murrey level [6/8]) and 562.50 (Murrey level [8/8]). The market situation remains uncertain, and a significant price movement will only be possible after it leaves the sideways range of 500.00–468.75.

Technical indicators do not give a single signal: Bollinger Bands are horizontal, the MACD histogram is at the zero line, its volumes are insignificant, and Stochastic is directed downwards.

Support and resistance

Resistance levels: 500.00, 531.25, 562.50.

Support levels: 468.75, 437.50, 406.25.

Trading tips

Short positions may be opened below 468.75, with the targets at 437.50, 406.25, and stop loss 487.00. Implementation time: 5–7 days.

Long positions may be opened above 500.00, with the targets at 531.25, 562.50, and stop loss 475.00.