American stocks have plunged in the past few days. The S&P 500 index has crashed by over 8.6% from its highest level this year, and is at its lowest point since September 16. Similarly, the Nasdaq 100 index has crashed by over 12%, while the Dow Jones has retreated by over 7.7% from their highest levels this year.
So, here are the top stock forecasts for companies like Adobe (ADBE), SentinelOne (S), and ZIM Integrated (ZIM), which will publish their results this week.
Adobe stock price analysis
Adobe’s share price has come under pressure in the past few weeks, with the focus being on the upcoming earnings. Analysts anticipate that the company’s revenue will be $5.66 billion, up by 9.26% from a year earlier. This revenue will bring the annual revenue to $23.5 billion, up by 9.3% from a year earlier.
The Adobe stock price has dropped from $636.45 in January 2024. It has dropped to $440, down and is hovering near its lowest level since June 5. The stock has formed a descending channel and is below the 50-week and 200-week moving averages.
Adobe share price has formed a bullish flag pattern and an inverse head and shoulders pattern. Therefore, the stock will likely have a strong bullish breakout in the coming days. The next key resistance level to watch will be at $500, followed by $555, the highest swing in October last year. A drop below the support at $398 will invalidate the bullish view.
SentinelOne stock price forecast
SentinelOne share price will be in the spotlight this week as it publishes its financial results. Analysts anticipate that its revenue numbers will come in at $222.3 million, a 27.65% annual increase. This figure will being the annual revenue figure to over $818 million, up by 31% from a year earlier.
The daily chart shows that the SentinelOne stock price has been in a strong downward trend after peaking at $30.80. It has dropped to a low of $18.17, the lowest swing since June 2024.
The stock has formed a death cross pattern as the 50-day and 200-day moving averages crossed each other. Also, the MACD and the Relative Strength Index have continued falling.
Therefore, the stock will likely continue falling as sellers target the next key support at $14.47, its lowest point in May. A move above the resistance at $18 will invalidate the bearish view.
ZIM Integrated stock price forecast
ZIM Integrated’s share price has bounced back since 2023 as global shipping costs have soared. It has moved from a low of $4.64 in December 2023 to a high of $20.6.
The stock has remained above the 50-week moving average. Also, it has formed an ascending channel and moved to the overbought point of the Murrey Math Lines tool.
Therefore, the stock will likely remain on edge in the coming days. Analysts expect that the ZIM share price will drop to $15.8, down from the current $20.6.
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