Approaching Resistance: Adobe

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.

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 16,408.54 ▼16.31 (-0.10%)
o S&P 500 1,864.85 ▲2.54 (0.14%)
o NASDAQ 4,095.52 ▲9.29 (0.23%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:16,408.54 Trade time:4:31PM EDT Value change:▼16.31 (-0.10%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:1,864.85 Trade time:4:31PM EDT Value change:▲2.54 (0.14%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,095.52 Trade time:5:15PM EDT Value change:▲9.29 (0.23%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.