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Adobe Inc., Murray Analysis

11/2/2022 2:59 PM

The shares of the leading American software developer Adobe Inc. have been attempting corrective growth within the framework of a long-term downward trend since the beginning of last month. During this time, the price reversed at the level of 281.25 ([1/8]) and after the growth tried to consolidate above the reversal level of 312.50 ([2/8]), however, it has now begun to decline, and when consolidated below the level of 312.50 and the middle line of the Bollinger Bands (302.80), its targets will be the levels of 281.25 ([1/8]) and 250.00 ([0/8]). Otherwise, the quotes will rise to the lower boundary of the central Murray channel 343.75 ([3/8]).

In general, the upward reversal of the Bollinger Bands and the likely transition of the MACD histogram to a positive zone indicate the possibility of continued corrective growth, but the preservation of the overall long-term downtrend makes its potential limited. 

Resistance levels: 343.75, 375.00, 406.25. | Support levels: 312.50, 302.80, 281.25, 250.00.

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