Price retested the level and retraced the Bounce level and retraced some, as expected. Expect price to go down to 59.73 again and go through it, to form a lower low.
I sold most of it off at that level, and am re-shorting the retraced-to level.
In the larger monthly frame ADBE was on an uptrend. I believe that this trend has turned.
ADBE may come back to fill in the gap here, and that might be a good opportunity to re-short.
Adobe Systems Incorporated (NASDAQ:ADBE) shares have come under pressure over the last few weeks. The stock was trading as high as $73.58 as recently as September 9. Since then Adobe Systems Incorporated (NASDAQ:ADBE) stock has declined almost 10% and is starting to get attractive for a long side trade. The first level on watch for next week which could provide a...
There about a few short term bullishness in this stock from technical view, but the larger picture suggests the recent upside swing is about to end. From bullish view, there is a little enthusiasm buying from here as volume suggest, but in May the price printed very scary DCC bearish pattern that in most cases does not materialize but a signal for a possible trend...
A Long Term: IMO, a giant of San Jose is looking for a fourth wave in this impulse. The rest in the hands of Mr Putin. Follow the blue line.
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A shame I've never looked at this chart before as it's beautiful. But it's target has been hit and price is have a problem taking out this area. I would not try long into ER.
