Adobe Inc.Updated Adobe Continuing sideways
Positive Signs:
Negative Signs:
Recommendation:
Sell near 385-400 resistance zone OR wait for an upward breakout with good volume.
- Bounced back from the Upward trendline running from October to May.
Bounced back from the upper part of the flag pattern formed in the last quarter of 2022
Spent just a week below 50DMA & 200DMA and bounced back
Negative Signs:
- Volumes are average
Resistance around 385-400 price
Recommendation:
Sell near 385-400 resistance zone OR wait for an upward breakout with good volume.
Note
Breakout on daily charts, hopefully today's close will be above 400 implying a breakout on weekly charts.The next immediate target would be 440-450 range... Considering Adobe spent almost one year at this level, it can be a strong resistance and therefore a good point to sell some shares (partial profit booking)
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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.
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.