ADBE just had a positive ER for this quarter.
This stock gapped up after earning report, filled the gap a few days later as a result of profit taking.
ADBE has managed to hold above resistance-turned-support line in the mid of bloody red market after Trump's China Tariff tweet.
It will most probably bounce higher for the next few weeks.
ADBE pooped higher but failed to hold. Should the market want a short term mini pullback - ADBE could be a good quick short through the low of yesterday - look for the close of last Friday to be a target around $282 - No Position - Watching for now... Good Luck, Trade Well
Lets talk aboutb what you need to see for a directional trade to the downside
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Close below 267.50 along with Qs and Tech etfs rolling would be cause for entry to the downside with a target of 255
Would expect other technology stocks to be have similiar price action at the time. If not Conviction is lowered substantially. With no momo sector wide, no need for a...
Adobe products are now part of our every day life and the cost effective subscription service offers fanatic value to customers, whether for private or commercial usage. Free competition does exist but Adobe sits at the top of the pile with a unrivaled range of products.
On the daily chart of Adobe shares, a bearish divergent bar was formed after a 5 sub-waves structure in the latest bullish wave. I expect an ABC corrective movement, which would be my profitable zone.
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ADBE
