ADOBE INC. - Weekly - Technical analysis published on 08/27/2023 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 495.18 USD
My targets
602.64 USD (+14.78%)
688.37 USD (+31.10%)
My analysis
In the short term, there could be an acceleration of the basic bullish trend on ADOBE INC.. This is a positive signal for buyers. As long as the price remains above 495.18 USD, a purchase could be considered. The first bullish objective is located at 602.64 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 688.37 USD as an objective. In the event of a return below 495.18 USD, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
6.8
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This analysis was given by mosabalzayed. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
ADOBE INC. rating 525.06 USD. The price is up +3.33% over 5 days and has been traded over the last 5 days between 511.05 USD and 539.67 USD. This implies that the 5 day price is +2.74% from its lowest point and -2.71% from its highest point.511.05
539.67
525.06
Here is a more detailed summary of the historical variations registered by ADOBE INC.:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Weekly chart of ADOBE INC. indicates that the overall trend is bullish. The signals returned by the moving averages are 78.57% bullish. This bullish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : Weekly
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 335.45 | 451.02 | 495.18 | 525.06 | 533.80 | 688.37 |
| Change (%) | -36.11% | -14.10% | -5.69% | - | +1.66% | +31.10% |
| Change | -189.61 | -74.04 | -29.88 | - | +8.74 | +163.31 |
| Level | Intermediate | Intermediate | Major | - | Major | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 502.92 | 508.69 | 516.88 | 522.65 | 530.84 | 536.61 | 544.80 |
| Camarilla | 521.22 | 522.50 | 523.78 | 525.06 | 526.34 | 527.62 | 528.90 |
| Woodie | 504.12 | 509.30 | 518.08 | 523.26 | 532.04 | 537.22 | 546.00 |
| Fibonacci | 508.69 | 514.03 | 517.32 | 522.65 | 527.99 | 531.28 | 536.61 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 477.93 | 490.92 | 499.52 | 512.51 | 521.11 | 534.10 | 542.70 |
| Camarilla | 502.19 | 504.17 | 506.15 | 508.13 | 510.11 | 512.09 | 514.07 |
| Woodie | 475.75 | 489.82 | 497.34 | 511.41 | 518.93 | 533.00 | 540.52 |
| Fibonacci | 490.92 | 499.16 | 504.26 | 512.51 | 520.75 | 525.85 | 534.10 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 418.53 | 446.76 | 496.47 | 524.70 | 574.41 | 602.64 | 652.35 |
| Camarilla | 524.74 | 531.88 | 539.03 | 546.17 | 553.32 | 560.46 | 567.60 |
| Woodie | 429.26 | 452.13 | 507.20 | 530.07 | 585.14 | 608.01 | 663.08 |
| Fibonacci | 446.76 | 476.54 | 494.93 | 524.70 | 554.48 | 572.87 | 602.64 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 69.68 | |
| MACD (12,26,9): | 41.2500 | |
| Directional Movement: | 27.11 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 519.08 | |
| Parabolic SAR (0,02-0,02-0,2): | 479.16 | |
| Elder Ray (13): | 34.86 | |
| Super Trend (3,10): | 450.28 | |
| Zig ZAG (10): | 525.06 | |
| VORTEX (21): | 1.2200 | |
| Stochastique (14,3,5): | 81.64 | |
| TEMA (21): | 544.02 | |
| Williams %R (14): | -14.58 | |
| Chande Momentum Oscillator (20): | 88.69 | |
| Repulse (5,40,3): | -1.4600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 1.4100 | |
| Courbe Coppock: | 71.79 |
| MA7: | 518.28 | |
| MA20: | 522.40 | |
| MA50: | 509.77 | |
| MA100: | 447.49 | |
| MAexp7: | 510.89 | |
| MAexp20: | 467.36 | |
| MAexp50: | 426.57 | |
| MAexp100: | 424.26 | |
| Price / MA7: | +1.31% | |
| Price / MA20: | +0.51% | |
| Price / MA50: | +3.00% | |
| Price / MA100: | +17.33% | |
| Price / MAexp7: | +2.77% | |
| Price / MAexp20: | +12.35% | |
| Price / MAexp50: | +23.09% | |
| Price / MAexp100: | +23.76% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
Don't forget to follow the news on ADOBE INC.. At the time of publication of this analysis, the latest news was as follows:
- Adobe Co-Founder Dr. John Warnock Passes at 82
- Elogic Commerce Awarded Adobe Commerce Specialization in the EMEA Region
- Adobe Reports Record Revenue in Q2 Fiscal 2023
- Adobe Unveils New Innovations Across Adobe Experience Cloud
- Adobe Summit EMEA Spotlights Major New Innovations and Customer Momentum Across Europe
This member declared not having a position on this financial instrument or a related financial instrument.
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