Adobe is consolidating after the June 16th high that was the peak of an enormous 1 month rally. The 1D timeframe has started to normalize (RSI = 68.673, MACD = 19.860, ADX = 22.091) the previously overbought condition but technically there is still some way to go before we reach a low risk buy entry.
We believe that is near the 1D MA50, so we are turning bearish (TP = 450.00). If the 518.55 High breaks however, we will take the loss and go long instead targeting the Resistance (TP = 580.00).
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We believe that is near the 1D MA50, so we are turning bearish (TP = 450.00). If the 518.55 High breaks however, we will take the loss and go long instead targeting the Resistance (TP = 580.00).
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.