This week, the shares of the leading American software developer Adobe Inc. trying to resume growth, trading around 301.00.
On Tuesday, the company's management released a controversial financial forecast for the current financial year, which was confirmed, and the next. So, in 2023, management expects adjusted earnings per share of 15.15–15.45 dollars instead of 15.53 dollars, as experts expected, and revenue could range from 19.1B dollars to 19.3B dollars, which is also below estimated estimates of 19.82B dollars. Correction of indicators may be facilitated by the strengthening of the US currency, as well as an increase in costs against the backdrop of rapid inflation but the published forecasts do not take into account the effect of the acquisition of Adobe Inc. Figma, a design software company. The 20.0B dollars deal is due to close next year and is likely to have a positive impact on the issuer's financials.
The trading instrument is trying to reverse the short-term downtrend, for which it needs to consolidate above the resistance zone of 316.75–312.50 (Murrey [2/8], Fibonacci correction 23.6%), and then the growth will be able to continue to 343.75 (Murrey [3/8], Fibonacci retracement 38.2%) and 363.20 (Fibonacci retracement 50.0%). The key "bearish" level is 275.65 (the area of September lows), a downward breakdown of which will give the prospect of further decline to 250.00 (Murrey [0/8]) and 218.75 (Murrey [–1/8]).
Technical indicators reflect the possibility of further growth: Bollinger bands have turned horizontally after falling, Stochastic is pointing up, and the MACD is declining in the negative zone.
Resistance levels: 316.75, 343.75, 363.20. | Support levels: 275.65, 250.00, 218.75.