Capital Street Inter markets Limited is a Global Business Company (GBC1) incorporated and regulated by the Financial Services Commission, Mauritius. It is fully licensed and regulated by the FSC Mauritius, as a Full Services Investment Dealer....
9th Floor, Ebene Tower, 52 Cybercity Ebene, Republic of Mauritius
In the Premarket trading session on Friday, Adobe’s stock was trading at 313.08- higher by 2.33% as compared to its previous close.
In recent news, Adobe reported its earnings after the market close on Thursday. The company reported around 21% rise in quarterly revenue, supported by higher subscriptions in its core digital media business, which includes the flagship Creative Cloud suite of software.
The California-based company’s net income rose to $851.9 million, or $1.74 a share, in the fourth quarter ended 29th November, from $678.2 million, or $1.37 per share, a year earlier. Adobe brought in $2.99 billion in revenue for the fourth quarter. The revenue was above the consensus estimates of $2.97 billion.
The software maker earned an adjusted $2.29 per share for its latest quarter, beating market expectations by three cents. Adobe forecasts revenue of $3.04 billion for the first quarter. The revenue estimate was below the market expectation of $3.09 billion.
On the technical front, the current price is above the MA5 and the MA20. The current price is above the upper band of the Bollinger Bands and is heading upwards. The stock is expected to trade higher today.
Overall Bias is Positive and short-term trades can be initiated with tight Stop Loss and Profit targets.
TRADE SUGGESTION-LIMIT BUY AT 312.80 TAKE PROFIT AT 315.60 STOP LOSS AT 311.40