Today we'll analyze the Stock adbe for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 35.09$ (02/22/08) to 32.55$ (03/07/08) a 2.54$ move
2- The current bullish trend started from 32.55$ at 03/07/08 and is currently trading at 34.75$.
3- The stock current support level is at 34.12 which is the 61.80% fibonacci retracement of the last 2.54$ move.
4- The stock current resistance level is at 35.09 which is the 100.00% fibonacci retracement of the last 2.54$ move.
5- The Stock was resisted by a resistance line, identified by two points: 35.09 and 44.37 that was broken up at 32.61 transforming into a supporting line.
6- According to ADX, the trend is currently strong bearish, which is getting stronger.
Conclusion:
adbe is currently trading a strong bearish wave, which is becoming stronger .
Technical indicators and chart patterns show bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy .
Resistance Levels: 35.09, 35.78, 36.66, 41.88.
Support Levels: 34.23, 34.12, 33.91, 33.82, 33.65, 33.52, 33.39, 33.15, 32.55, 32.55, 31.72,.
We Moved!!
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Shadi
Thursday, March 20, 2008
Adobe Systems Incorporated (ADBE) Technical Analysis
That's all for today ... thanks for reading the post,
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have a nice day,
Shadi
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