Solid News

Adobe Inc., Technical Analysis

8/25/2022 11:17 AM

The shares of Adobe Inc., an American software developer, are falling, trading in the 404.00 area.

On the daily chart of the asset, the price is moving within the local ascending channel with dynamic boundaries of 400.00–460.00 and, having consolidated below the initial correction of 23.6% Fibonacci around 430.00, it is trying to reach the support line.

On a four-hour chart, it is seen that the support line at 400.00 is practically the only obstacle to the negative dynamics of quotations, and if it consolidates below it, the trading instrument can test the year’s low of 348.60.

Technical indicators are slowing down: the range of fluctuations of the EMA on the Alligator indicator are narrowing, and the histogram of the AO oscillator is forming down bars in the buying zone.

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