Tough times for Adobe and its investors. The software giant is facing the biggest stock decline in years. The price already reached the COVID-19 bottom and it looks like this is not the end. The rapid lifting of the interest rates by the central banks means more reduction in consumer demand and lesser price increases. In the near term, sales and profit margins are likely to drop from current estimates. Adobe Inc recently announced a lowered revenue guidance for 2023 also affected by the change in the currency rates.
In a short-term correction is possible to the major resistance located at the $ 300. The long-term scenario is a breakout of the local $ 270 support level and a new drop to the $ 205 support level.
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we should be near the bottom...I just don't see it going down below 260 level, you think it will drop to 200? To think that I have shares bought at $26 and I didn't sell at 700....even if we'll continue from here....the regret is real. This stock keeps reminding me to buy enough shares so you can sell some when time comes and still keep the rest for the long term, I've decided to sit through this pain and just add when shit hits the fan yet at this price compare to when I got in, this is expensive haha. The pumps and dumps of this market have been unreal. I'm starting to be pro FED dismantling because they with the gov. and central banks were the ones who inspired the pump, now they are forcing the dump and the middle class just watches in shock.