Tag: $ADBE
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$ADBE Has All the Needed Ingredients for a Top to Be in Place
My last call on $ADBE was here. It’s largely worked out, i.e., we got a continuation of the correction followed by a rally towards my target above. However, I am cancelling the call to the actual target box itself because of many things I’m seeing here in the markets as a whole.
And, with this one in particular, strictly-speaking, all that was needed for a high to be put in place was breaking above the September high, which we have now done (green arrow). Given the risk that we’re at or nearing primary (pink) 5 by making that new high, along with the other signs I’ve been talking about lately, I see no advantage for calling for much higher prices on this. So, in this post, I only observe that a significant high may be in but I make no new targets. I will need to watch this in the short-term prior to making a specific call.
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Here Is My Interpretation of $ADBE
I believe that the magnitude of the sideways consolidation $ADBE made through last year and this makes it a candidate for a two (or four) of primary degree, correcting more in time rather than in price. The good news is that in this stock’s case (it’s not always the case), primary (pink) 3 and primary (pink) 5 both have approximately the same expected target ranges. This wave is subdividing nicely and should consolidate here for a while going as low at times as the bottom of the orange box beneath us before finally working its way to the upper target area.
Read more “Here Is My Interpretation of $ADBE”
Note: When my work is first published on this website, it is made available to patrons who support my work through my Patreon account. Over time (usually after a period of a few months), I make the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page.