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