Today we'll analyze the Stock adbe for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 35.87$ (02/26/08) to 31.94$ (03/10/08) a 3.93$ move
2- The current bullish trend started from 31.94$ at 03/10/08 and is currently trading at 33.30$.
3- The stock current support level is at 32.87 which is the 23.60% fibonacci retracement of the last 3.93$ move.
4- The stock current resistance level is at 33.44 which is the 38.20% fibonacci retracement of the last 3.93$ move.
5- The Stock formed Double Top Pattern at 35.87.
6- According to ADX, the trend is currently strong bearish,which is becoming weaker.
Conclusion:
adbe is currently trading a strong bearish wave, which is becoming weaker .
Technical indicators and chart patterns show bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy .
Resistance Levels: 40.90, 33.44, 33.90, 34.37, 35.82, 35.86, 35.87, 36.94, 38.30.
Support Levels: 32.98, 32.87, 32.78, 32.62, 32.46, 31.94, 31.94,.
Friday, March 14, 2008
Adobe Systems Incorporated Technical Analysis
That's all for today ... thanks for reading the post,
come back soon for more updates,
use the search to lookup for more interesting stocks you might be interested in,
feel free to leave your comments on the post, or contact me
enjoy your online market trading!!
have a nice day,
Shadi
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