Symmetrical Triangle Rising Wedge Earnings 3-23

Earnings on 3-23 AMC

Not sure what is up, or down )o: with ADBE. Perhaps market just felt it was high enough, for now anyway.

Maybe earnings will help this one.

Breaking to the upside from the rising wedge a while back is probably not helping. Rising wedges are usually long term patterns, but terminal in the end. Rising wedges affect supply and demand which is the heart of the market. They are not valid until bottom trendline is broken. ADBE has broken the bottom trendline. A strong stock does not fall that far as a rule. The definition of "not far" can vary )o: Rising wedges are caused by too much buying and lack of healthy pull backs, irrational exuberance. Sometimes the wedge does not affect the stock for a long time. Seems to hit most when a pull back occurs, and the pull back can be somewhat devastating. Perhaps there are not enough buyers left because everyone has already bought it? Then the panic selling kicks in?


No recommendation