Adobe Continuing sideways

2023년 5월 20일

Positive Signs:

• 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.

2023년 5월 26일

노트

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)