Adobe Systems Incorporated (ADBE/NASD/S&P500)
12 September 2017, 12:37
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 157.80 |
| Take Profit | 160.00, 160.50 |
| Stop Loss | 156.75 |
| Key Levels | 154.50, 155.50, 156.50, 157.75 |
Industry: applied software
Current trend
Adobe and Microsoft presented the first set of partner solutions that help enterprises to modify their working experience with Adobe Experience Cloud, Microsoft Azure and Microsoft Dynamics. Currently the strategic alliance of companies is aimed at the increase of labor productivity and the efficiency of business processes.
Next Tuesday, on September 19, before the opening of the market Adobe will report for Q3 2017. The Wall Street analysts expect net income to grow by 35% YoY to $1.01 per share.
Last week, Adobe shares increased by 1.17%. S&P500 index increased by 1.14% within the same period.
Comparing company's multiplier with its competitors in the industry, we can say that Adobe shares are neutral.
Key levels
The stock of the company shows an evident upward tendency. Yesterday the emitter opened with a gap up. The trading ended with the growth of #ADBE quotes by 0.98%. The emitter formed local support and resistance levels at 156.50 and 157.75 respectively. Currently indicators do not give any clear signal. However, further growth of the company's shares is expected.
Support levels: 156.50, 155.50, 154.50.
Resistance levels: 157.75.
Trading tips
If the price consolidates above the local resistance level of 157.75, one may consider buying the company's stock. The target movement level will be 160.00-160.50. Stop-loss will be placed at 156.75. Trailing stop is to be used for positions.
The implementation period is 2-3 days.
Current trend
Adobe and Microsoft presented the first set of partner solutions that help enterprises to modify their working experience with Adobe Experience Cloud, Microsoft Azure and Microsoft Dynamics. Currently the strategic alliance of companies is aimed at the increase of labor productivity and the efficiency of business processes.
Next Tuesday, on September 19, before the opening of the market Adobe will report for Q3 2017. The Wall Street analysts expect net income to grow by 35% YoY to $1.01 per share.
Last week, Adobe shares increased by 1.17%. S&P500 index increased by 1.14% within the same period.
Comparing company's multiplier with its competitors in the industry, we can say that Adobe shares are neutral.
Key levels
The stock of the company shows an evident upward tendency. Yesterday the emitter opened with a gap up. The trading ended with the growth of #ADBE quotes by 0.98%. The emitter formed local support and resistance levels at 156.50 and 157.75 respectively. Currently indicators do not give any clear signal. However, further growth of the company's shares is expected.
Support levels: 156.50, 155.50, 154.50.
Resistance levels: 157.75.
Trading tips
If the price consolidates above the local resistance level of 157.75, one may consider buying the company's stock. The target movement level will be 160.00-160.50. Stop-loss will be placed at 156.75. Trailing stop is to be used for positions.
The implementation period is 2-3 days.
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