The Oval tool is used to make circular objects. Simply
select the tool and drag on the Stage to draw a circle that spans between the
start and end points.
You can press the Shift key while dragging to ensure
your circle is perfectly round.
When you draw a circle, Flash actually creates two objects:
the fill and the outline. This may cause problems if you try to move your circle
to a new position, because if you fail to select both objects, only the one
selected will be moved. To avoid this it's often a good idea to "group" the
outline with the fill, thus locking them together as if it was a single object.
1: Make sure both the fill and the outline is selected.
(You can do this in two ways: 1) Select the Arrow tool in the toolbox, and while
holding down the SHIFT key click on both the fill and the outline. 2) Select
the Arrow tool in the toolbox, and drag a rectangle outside your circle)
2: Press Ctrl+G to group the selected objects.
(If at a later point you want to "break" apart the grouped objects, you can
do it by selecting the grouped object then pressing Ctrl+B).
You can position the oval perfectly using the info panel.
Info Panel : Window > Panels > Info

The "square" connected to the line where it says "Click
this square" is used to set the origin for coordinates - either at top left
or center of the stage.
Fields for X and Y are used to enter the position
of the selected object.
Fields for W and H are used to enter the width and height
of the selected object.
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