Adobe has recently been in the news for restoring accounts to Venezuelan customers after reaching a deal with the US government on trade sanctions. From a technical perspective, Adobe stock has been testing bullish indicators and appear to be strengthening. Adobe stock From the 4-month low of October 23, Adobe shares have been strengthening within the correction, adding 4%. The issuer’s quotes fell from a July 52-week high of 13%. By the end of the year, the company plans to present a version of Photoshop and Illustrator for installation on the iPad of Apple Inc. in 2020. A US license to provide products in Venezuela was previously obtained.
Over the past week, Adobe shares rose by 1.69%. The S&P 500 index for the same period increased by 1.10%.
Support and resistance
Recent sessions in #ADBE are quite calm. The issuer is consolidating. There is no unidirectional trend observed. Currently, local levels of support and resistance are 266.00 and 274.00. There is a potential for decline. Indicators do not give accurate signals: the price is testing MA (50); the MACD histogram has started to rise. It is better to open the positions from the key levels.
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A comparative analysis of the multiples of the company and competing companies in the industry indicates the neutrality of #ADBE.
Resistance levels: 274.00, 281.00, 286.00.
Support levels: 266.00, 258.00, 250.00.
Adobe Stock Ideas
Short positions may be opened after the price consolidates below the level of 266.00. The closing of the profitable positions is possible at the levels of 258.00, 250.00 and 244.00. Stop loss – 274.00.
Long positions may be opened after the price consolidates above the level of 274.00 with the targets at 286.00–294.00. Stop loss – 266.00.
Implementation period: 3 days.
Adobe Stock Investment Bank Recommendations
Oct-21-19 Reiterated BMO Capital Markets Outperform $310 → $300
Oct-16-19 Downgrade Citigroup Buy → Neutral $322 → $313
Oct-15-19 Initiated Cleveland Research Neutral $283
Sep-18-19 Reiterated Griffin Securities Buy $303 → $317
Sep-18-19 Reiterated BMO Capital Markets Outperform $315 → $310
Sep-13-19 Resumed RBC Capital Mkts Outperform
Jun-19-19 Upgrade Stephens Equal-Weight → Overweight $288 → $327
Jun-19-19 Reiterated BofA/Merrill Buy $312 → $323
Jun-19-19 Reiterated BMO Capital Markets Outperform $300 → $315
Apr-29-19 Upgrade Morgan Stanley Equal-Weight → Overweight $282 → $340
Mar-15-19 Reiterated Canaccord Genuity Buy $290 → $300
Mar-15-19 Downgrade KeyBanc Capital Markets Overweight → Sector Weight
Feb-15-19 Downgrade Cowen Outperform → Market Perform $280
Jan-17-19 Initiated Stephens Equal-Weight
Jan-09-19 Initiated Atlantic Equities Neutral $250
Jan-07-19 Upgrade Pivotal Research Group Hold → Buy $262
Dec-14-18 Reiterated Pivotal Research Group Hold $254 → $252
Dec-14-18 Reiterated BMO Capital Markets Outperform $295 → $300
Oct-19-18 Initiated Wedbush Neutral $270
Sep-14-18 Reiterated Stifel Buy $275 → $325
Adobe Inc. operates as a diversified software company worldwide. Its digital media segment provides tools and solutions that allow people, small and medium enterprises and businesses to create, publish, promote and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customers to download and access the latest versions of their creative products. This segment serves traditional content creators, web application developers and digital media professionals, as well as its management in marketing departments and agencies, companies and publishers. The company’s digital experience segment offers solutions on how advertising and digital marketing are created, managed, executed, measured and optimized. This segment provides analysis, social marketing, targeting, media optimization, digital experience management, multichannel campaign management, marketing automation, audience management and video delivery and monetization solutions to digital vendors, advertisers, publishers, merchants, analysts web marketing manager. officers, directors of information and directors of income. Its publishing segment offers products and services, such as e-learning solutions, publication of technical documents, web application development and high-end printing, as well as the publication needs of technical and commercial printing companies, and original equipment manufacturers ( OEM) The company offers its products and services directly to business customers through its sales force, as well as to end users through app stores and through its website at adobe.com. It also distributes products and services through a network of distributors, value-added resellers, system integrators, vendors and software developers, retailers and OEMs. The company was previously known as Adobe Systems Incorporated and changed its name to Adobe Inc. in October 2018. The company was founded in 1982 and is based in San Jose, California.