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New York, January 8th (TradersHuddle.com) - Shares of Adobe Systems Incorporated (NASDAQ:ADBE) are trading very close to calculated resistance at $38.73. The stock ended the trading session at just $37.94, which is near levels that make it difficult to buy or start a position.

Adobe Systems Incorporated (NASDAQ:ADBE) develops, markets, and supports computer software products and technologies. The Company's products allow users to present and use information across all print and electronic media. Adobe offers a line of application software products, type products, and content for creating, distributing, and managing information. The company popular Acrobat Reader allows companies and consumers to exchange a wide variety of electronic information and documents.

Adobe's stock range is defined by its calculated support defined at $32.14 and by the resistance level at $38.73; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.

Traders don't have a clear entry point for Adobe. However, as the stock pulls back towards $32.14 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $38.73 then traders will get an opportunity to enter the stock as it moves to a higher range.

Technical Scans

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o Dow Jones 18,232.02 ▼53.72 (-0.29%)
o S&P 500 2,126.06 ▼4.76 (-0.22%)
o NASDAQ 5,089.36 (%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:18,232.02 Trade time:4:32PM EDT Value change:▼53.72 (-0.29%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,126.06 Trade time:4:32PM EDT Value change:▼4.76 (-0.22%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:5,089.36 Trade time:5:15PM EDT Value change: (%)

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