Shares of Adobe Inc., a leading US software developer, have been rising since October last year, but in early February, the price began a downward correction, which could lead to a change in the trend. The quotes reversed around 406.25 (Murrey's level [+2/8]), returned to Murrey's main trading range, breaking through the middle line of Bollinger bands around 375.00 (Murrey's level [8/8]), and now approached the reversal level 343.75 (Murrey level [6/8]), the breakdown of which will give the prospect of further decline to 328.12 (Murrey level [5/8]) and 312.50 (Murrey level [4/8]). The key "bullish" level is 375.00, which breakout can lead to the price returning to 390.62 (Murrey level [+2/1]) and 406.25 (Murrey level [+2/8]).
Technical indicators allow the development of negative dynamics: Bollinger bands are reversing downwards, the MACD histogram is preparing to go into the negative zone, having formed a sell signal, Stochastic has entered the oversold zone but so far does not show signs of a reversal.
Resistance levels: 375.00, 390.62, 406.25. | Support levels: 343.75, 328.12, 312.50.