Adobe is near resistance, with +ve bias. Wait & Watch mode.
There are three +ve indicators (suggesting buy)
1. Price moved above 50DMA with good volume on 16th March
2. Price moved above 200DMA with good volume on 17th March.
3. Golden-Crossover (50DMA above 200DMA) on 21st March.
However, the volumes are still lower than average and the price is stuck between 385-400 range, suggesting profit booking in this range.
Short-Term view - book profit in the 385-400 range.
Mid-Term view - wait for a breakout from 400 for a ~10% upside.
1. Price moved above 50DMA with good volume on 16th March
2. Price moved above 200DMA with good volume on 17th March.
3. Golden-Crossover (50DMA above 200DMA) on 21st March.
However, the volumes are still lower than average and the price is stuck between 385-400 range, suggesting profit booking in this range.
Short-Term view - book profit in the 385-400 range.
Mid-Term view - wait for a breakout from 400 for a ~10% upside.
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.