Approaching Resistance: Adobe
Published on Tuesday, 12 February 2013 07:16 Written by TradersHuddle Wire
New York, February 12th (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 $38.64, 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.
- ManpowerGroup Named to 2013 Dow Jones Sustainability Index
- ManpowerGroup: Bridging Global Skills Gaps Hinges on Driving Youth Employability
- ManpowerGroup Solutions' Managed Service Provider TAPFIN Recognized as a Top Performer in Customer Loyalty Survey
- ManpowerGroup: Asian Companies Must Prioritize Leadership Development
- ManpowerGroup Solutions' Managed Service Provider TAPFIN Launches World's First Contingent Workforce Index
- Manpower Employment Outlook Survey Reports Improved Year-End Hiring Plans in U.S., Strongest Since Q4 2007
- Manpower Employment Outlook Survey Shows Most Global Employers to Adopt Wait-and-See Approach to Hiring for Rest of Year
- Align Flexible Workforce Models with Business Strategy to Thrive in Economic Uncertainty, ManpowerGroup Says, As Unemployment Rate Falls to 7.3%
- ManpowerGroup's Exemplary Workplace Practices Recognized for Fourth Consecutive Year
- ManpowerGroup on the Best Practices in Recruitment Process Outsourcing
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines