cmaroun

ADBE Head and Shoulder

Short
BATS:ADBE   Adobe Inc
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Adobe closed on the 26/10/2012 with relatively high volumes @ 34. 01 after touching the 34.10 resistance level . It's daily chart shows a clear head and shoulder pattern that could send the stock lower to the 28.00 levels.
Fundamentally the co. is fairly valued.

Comments

no head and shoulder there but still managed to close my trade with a small profit :)
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guess you were right guys, ADBE broke the 34.10 levels today!
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imho, Right shoulder formation is not complete. H&S pattern is not confirmed. Possible? yes, but not yet.
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