Focus Stocks

Is Adobe Closing in to Resistance?

New York, January 21st ( - Shares of Adobe Systems Incorporated (NASDAQ:ADBE) are trading very close to calculated resistance at $38.78. The stock ended the trading session at just $37.73, 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 $38.78; 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 $38.78 then traders will get an opportunity to enter the stock as it moves to a higher range.

What’s the next under-$10 stock that could be ready to skyrocket? Find out now when you join David Peltier at Stocks Under $10.

TradersHuddle Search

Stock Search:

Site Search:

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

o Dow Jones 17,812.19 ▲19.51 (0.11%)
o S&P 500 2,089.14 ▲2.55 (0.12%)
o NASDAQ 5,102.81 ▲0.33 (0.01%)

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,812.19 Trade time:4:33PM EST Value change:▲19.51 (0.11%)

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,089.14 Trade time:4:33PM EST Value change:▲2.55 (0.12%)


Company ID [INDEXNASDAQ:.IXIC] Last trade:5,102.81 Trade time:5:15PM EST Value change:▲0.33 (0.01%)

In The Wires

Copyright © 2013 All Rights Reserved.