Short term view - ADOBE SYSTEMS : A double top is forming.
The support has been broken, the trend becomes negative as we now have a succession of descending peaks and troughs.The next target is at $201.500. The invalidation level is below $231.500.Arguments :
- The support has been breached.
- The major resistance has been shortly breached, but it is now reinstated. Prices can fall.
- Prices are breaking below the moving average, it is a sign of weakness.
- A double top is forming.
Adobe is a software company. The company provides a line of products and services used for creating, managing, delivering, measuring, optimizing, engaging and transacting with content across personal computers, devices and media. The company's segments are: Digital Media, which provides products, services and solutions that enable individuals, teams and enterprises to create, publish and promote their content; Digital Experience, which provides a platform and set of applications and services through Adobe Experience Cloud; and Publishing, which contains products and services that address market opportunities including eLearning solutions, web conferencing, web application development and printing.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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