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Adobe Inc, Murray Analysis

11/25/2022 2:30 PM

The shares of the leading American software developer Adobe Inc. since the beginning of this month have been attempting a corrective growth towards a long-term downward trend. During this time, the price moved into the positive part of the Murray trading range and tested the reversal level of 343.75 ([6/8]), which, however, it could not overcome, rolling back to the upper boundary of the Murray central channel of 328.12 ([5/8]). The 343.75 mark remains key for the "bulls". Its breakout will give the prospect of further upward dynamics up to the upper limit of the Murray trading range of 375.00 ([8/8]), which coincides with the upper limit of the descending channel. The key for the "bears" is the 320.50−312.50 zone (the middle line of the Bollinger Bands, [4/8]), at the breakdown of which the quotes of the instrument will return to the negative part of the Murray trading range and will be able to reach the reversal level of 281.25 ([2/8]), which was repeatedly tested earlier.

The potential for corrective growth remains, as the Bollinger Bands and the Stochastic reverse upwards, and the MACD histogram is stable in the positive zone.

Resistance levels: 343.75, 359.38, 375.00. | Support levels: 312.50, 296.88, 281.25.

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