Adobe - The Triangle Breakout Is Coming!

12 Ara

Adobe (ADBE) still remains in a bullish market:



Click chart above to see the detailed analysis👆🏻

For more than four years, Adobe has actually been moving sideways, still digesting the crazy bullrun which we saw over the past decade. Looking at the symmetrical triangle pattern though, this is just a bullish consolidation, which will most likely end with another bullish breakout.

Levels to watch: $440, $560

Keep your long term vision,
Philip (BasicTrading)

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Trading update on Adobe (ADBE):



Click chart above to see the detailed analysis👆🏻

And here we go: Adobe just retested the major horizontal support after dropping more than -15% over the past couple of days. However, this is still an overall bullish consolidation triangle - therefore a bullish breakout is much more likely. Just be patient and don't try to catch a falling knife during this bear market.

Levels to watch: $440, $560

Keep your long term vision,
Philip (BasicTrading)