Is Adobe Closing in to Resistance?

New York, January 21st (TradersHuddle.com) - 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.



Related Articles

    Related Partner Headlines

      Real Money Pro from TheStreet: Headlined by legendary hedge fund manager Doug Kass, our team of market technicians and professional traders hand you unique perspectives and breakthrough investment opportunities. Access this exciting service -- Real Money Pro -- FREE, right now!

      TradersHuddle Search

      Stock Search:


      Site Search:

      Loading

      Technical Scans

      Stock Market

      Loading
      Chart
      o Dow Jones 18,480.32 ▲6.57 (0.04%)
      o S&P 500 2,166.12 ▼3.06 (-0.14%)
      o NASDAQ 5,135.79 ▲25.74 (0.50%)
      INDEXDJX:.DJI

      Dow Jones

      Company ID [INDEXDJX:.DJI] Last trade:18,480.32 Trade time:11:26AM EDT Value change:▲6.57 (0.04%)
      INDEXSP:.INX

      S&P 500

      Company ID [INDEXSP:.INX] Last trade:2,166.12 Trade time:11:26AM EDT Value change:▼3.06 (-0.14%)
      INDEXNASDAQ:.IXIC

      NASDAQ

      Company ID [INDEXNASDAQ:.IXIC] Last trade:5,135.79 Trade time:11:26AM EDT Value change:▲25.74 (0.50%)

      In The Wires

      Copyright © 2013 TradersHuddle.com. All Rights Reserved.