Buying Adobe shares is hedged by selling Micron.
Buying shares of Adobe Systems Incorporated (#ADBE), a software developer.
In the past two weeks, the company's shares have been bullish. The Marlin oscillator is moving in a positive zone. The target is seen at the 261.8% Fibonacci level of 694.00.
On the daily chart, the price broke above the Krusenstern line after a two-day consolidation below it and above the 200.0% Fibonacci level. The Marlin oscillator is headed upward, and the quote is likely to extend gains.
Selling shares of Micron Technology (#MU), a semiconductor manufacturer.
In the previous week, the price closed below the 138.2% Fibonacci level. This indicates weekly consolidation below this level and a high likelihood of a further fall in price. The first target is seen at the 161.8% Fibonacci level of 63.13. In case of consolidation below it, another target will be seen at the 200.0% Fibonacci level of 55.15.
On the daily chart, eight candlesticks consolidated on the Fibonacci line below the Krusenstern line, indicating the possibility of a further price decline. The Marlin oscillator is reversing downward.The material has been provided by InstaForex Company - www.instaforex.com