ADOBE INC. - Daily - Technical analysis published on 12/20/2023 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
28%
22%
50%
My opinion
Bullish above 564.88 USD
My targets
633.66 USD (+4.83%)
688.37 USD (+13.88%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on ADOBE INC. as long as the price remains well above 564.88 USD. The buyers' bullish objective is set at 633.66 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 688.37 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
4.5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ADOBE INC. rating is 604.47 USD. The price registered a decrease of -0.03% on the session and was between 600.71 USD and 610.68 USD. This implies that the price is at +0.63% from its lowest and at -1.02% from its highest.600.71
610.68
604.47
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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 Daily chart of ADOBE INC. indicates that the overall trend is strongly bullish. The signals given by moving averages are 82.14% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : Daily
On the 18 technical indicators analysed, 5 are bullish, 9 are neutral and 4 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
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 | 533.80 | 564.88 | 604.33 | 604.47 | 633.66 | 688.37 |
| Change (%) | -11.69% | -6.55% | -0.02% | - | +4.83% | +13.88% |
| Change | -70.67 | -39.59 | -0.14 | - | +29.19 | +83.90 |
| Level | Intermediate | Major | Intermediate | - | 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 | 582.95 | 590.51 | 597.58 | 605.14 | 612.21 | 619.77 | 626.84 |
| Camarilla | 600.62 | 601.96 | 603.30 | 604.64 | 605.98 | 607.32 | 608.66 |
| Woodie | 582.70 | 590.39 | 597.33 | 605.02 | 611.96 | 619.65 | 626.59 |
| Fibonacci | 590.51 | 596.10 | 599.56 | 605.14 | 610.73 | 614.19 | 619.77 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 508.27 | 543.23 | 563.96 | 598.92 | 619.65 | 654.61 | 675.34 |
| Camarilla | 569.37 | 574.47 | 579.58 | 584.68 | 589.79 | 594.89 | 600.00 |
| Woodie | 501.15 | 539.67 | 556.84 | 595.36 | 612.53 | 651.05 | 668.22 |
| Fibonacci | 543.23 | 564.51 | 577.65 | 598.92 | 620.20 | 633.34 | 654.61 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 459.21 | 496.60 | 553.81 | 591.20 | 648.41 | 685.80 | 743.01 |
| Camarilla | 585.00 | 593.67 | 602.34 | 611.01 | 619.68 | 628.35 | 637.03 |
| Woodie | 469.11 | 501.56 | 563.71 | 596.16 | 658.31 | 690.76 | 752.91 |
| Fibonacci | 496.60 | 532.74 | 555.07 | 591.20 | 627.34 | 649.67 | 685.80 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 52.79 | |
| MACD (12,26,9): | 4.6100 | |
| Directional Movement: | 3.93 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 612.42 | |
| Parabolic SAR (0,02-0,02-0,2): | 626.49 | |
| Elder Ray (13): | 0.50 | |
| Super Trend (3,10): | 634.20 | |
| Zig ZAG (10): | 604.70 | |
| VORTEX (21): | 0.9900 | |
| Stochastique (14,3,5): | 44.15 | |
| TEMA (21): | 605.07 | |
| Williams %R (14): | -52.85 | |
| Chande Momentum Oscillator (20): | 0.23 | |
| Repulse (5,40,3): | 1.3100 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.2100 | |
| Courbe Coppock: | 3.11 |
| MA7: | 605.07 | |
| MA20: | 610.24 | |
| MA50: | 582.14 | |
| MA100: | 555.60 | |
| MAexp7: | 603.55 | |
| MAexp20: | 603.52 | |
| MAexp50: | 585.18 | |
| MAexp100: | 554.50 | |
| Price / MA7: | -0.10% | |
| Price / MA20: | -0.95% | |
| Price / MA50: | +3.84% | |
| Price / MA100: | +8.80% | |
| Price / MAexp7: | +0.15% | |
| Price / MAexp20: | +0.16% | |
| Price / MAexp50: | +3.30% | |
| Price / MAexp100: | +9.01% |
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:
- SHAREHOLDER ALERT: Levi & Korsinsky Notifies Adobe Inc.(ADBE) Investors of a Class Action Lawsuit and Upcoming Deadline
- SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Adobe, Inc. - ADBE
- SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Adobe Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of December 19, 2023 - (NASDAQ: ADBE)
-
Look Ahead: Fed; Japan Tankan; UK GDP; Adobe
- SHAREHOLDER ALERT: Levi & Korsinsky Notifies Adobe Inc.(ADBE) Investors of a Class Action Lawsuit and Upcoming Deadline
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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