New support level formed for Adobe stock

08 November 2022 57
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Level of 275-277 within a month and a half has become a pretty good support for Adobe stock. Perhaps the drop from the all-time high by more than 60% has attracted a significant number of long-term investors, which pick up the Adobe shares and prevent them from falling even lower.

 

Monday's trading resulted in a reversal pattern "doji morning star" on the chart. If it gets confirmation from the Stochastic indicator today, the shares of Adobe can head to their local highs in the range of 325.

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