Adobe Inc. Stock Forecast
Adobe Inc. stock downgraded from Buy Candidate to Sell Candidate after Tuesday trading session.
(Updated on May 14, 2024)
The Adobe Inc. stock price fell by -2.46% on the last day (Tuesday, 14th May 2024) from 453.35€ to 442.20€. During the last trading day the stock fluctuated 2.02% from a day low at 440.00€ to a day high of 448.90€. The price has risen in 6 of the last 10 days but is still down by -0.51% for this period. Volume has increased on the last day by 16 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 559 shares were bought and sold for approximately 247.19€ thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -16.30% during the next 3 months and, with a 90% probability hold a price between 345.49€ and 392.07€ at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ADB.F Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 1.52%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Adobe Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at 453.41€ and 450.97€. A break-up above any of these levels will issue buy signals. Adobe Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Adobe Inc. stock
Adobe Inc. finds support from accumulated volume at 441.10€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 8.90€ between high and low, or 2.02%. For the last week the stock has had daily average volatility of 1.46%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ADB.F) For The Upcoming Trading Day Of Wednesday 15th
For the upcoming trading day on Wednesday, 15th we expect Adobe Inc. to open at 443.70€, and during the day (based on 14 day Average True Range), to move between 433.50€ and 450.90€, which gives a possible trading interval of +/-8.70€ (+/-1.97%) up or down from last closing price. If Adobe Inc. takes out the full calculated possible swing range there will be an estimated 3.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 441.10€ (0.25%) than the resistance at 448.45€ (1.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Adobe Inc. stock A Buy?
Adobe Inc. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.730 Sell Candidate Downgraded
Predicted Opening Price for Adobe Inc. of Wednesday, May 15, 2024
| Fair opening price May 15, 2024 | Current price |
|---|---|
| 443.70€ ( 0.339%) | 442.20€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADB.F
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 452.60 | 2.35 % | |
| R2 | 449.20 | 1.58 % | ||
| R1 | 447.10 | 1.11 % | ||
| Current price: | 442.20 | |||
| Support | S1 | 440.30 | -0.430 % | |
| S2 | 438.20 | -0.90 % | ||
| S3 | 434.80 | -1.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 496.00 | 12.17 % | |
| R2 | 450.10 | 1.79 % | ||
| R1 | 448.45 | 1.41 % | ||
| Current price | 442.20 | |||
| Support | S1 | 441.10 | -0.249% | |
| S2 | 438.70 | -0.791% | ||
| S3 | 435.60 | -1.49% |
FAQ
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