ADBE is currently holding at the long-term ascending channel support, and we can say it’s moving sideways between $330 and $360. It’s important to note that in previous tests of this ascending channel support, the price moved more rapidly; however, this time it seems to be taking a breather, indicating that the stock may be in a consolidation phase. This also reflects the current environment of increasing competition and growth among technology companies.
If a position is to be opened, $327.50 (the lowest level it recently reached) can serve as a stop-loss point. For those who want to avoid a potential bear trap, $319.33 could be considered a safer stop-loss level.
The first upside target would be $420, while in the event of a downward move, the price may head toward the $275 horizontal support level.
I wanted to keep the chart quite simple, but the indicators are signaling a potential upward movement. It seems that the price may soon move toward $420. This is not investment advice — it reflects only my personal opinion.
This is not investment advice.
If a position is to be opened, $327.50 (the lowest level it recently reached) can serve as a stop-loss point. For those who want to avoid a potential bear trap, $319.33 could be considered a safer stop-loss level.
The first upside target would be $420, while in the event of a downward move, the price may head toward the $275 horizontal support level.
I wanted to keep the chart quite simple, but the indicators are signaling a potential upward movement. It seems that the price may soon move toward $420. This is not investment advice — it reflects only my personal opinion.
This is not investment advice.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.