Opinion on  Adobe Systems Inc (ADBE)     Sector: Technology  >  Industry: Software & Programming
Adobe (ADBE)

15.11-2007. Adobe wave update. Wedge is broken now, in most cases price test lower wedge line from below (this reminds me NTAP recent case) as resistance before heading south again as did Adobe also. (update with one stockchart). Note that this is very individual bearish stockpattern (even I think it´s the best bearish wedge & stockpattern I found at the top) and one should not consider overall market condition is this bearish.

















7.11-2007. Adobe StockChart Updates. Time to start consider to make turnaround now from recent blogpost bullish view to bearish one.
























































30.8-2007. Adobe Update, well, didn´t need to wait for long that breake either. If market will push prices lower from here for the reasons or another, for Adobe there should be room only for wegde upper line which should act as storng support (around the same place as 38.2% fib locates.) This was actually first healty bullish candle for Adobe since bottoming as it´s kind of "mini long lower shadow", only shadow part of is too short to be real one. After all, it wasn´t surprize after yesterday inverted hammer. Stock held positive close during yesterdays deep market downroll. Even, the wedge size is not so huge one with priceterms in here, stock should go now - if not, then another bounche should came from that wedge line. It´s a bit shame it was not even more agressive one together with market as we had plenty of other stocks from qqqq taken even double size percent moves today like +6% moves in BBBY etc.

28.8-2007 Adobe StockCharts Update. To looking back the charts, not inside of this wedge, but really long passed history I don´t think this impulse got ready at all for the reason wave lengths and specially possible wave3 amfplitude was not a agressive one enough. If you fit this wedge like I did, there´s no room for full impulse. This disturbs me a bit also for the reason Adobe did not actually take any deeper well offering fibonacci support line to bounche. However, wedge is the wedge and I fixed it with some corrective labelling which does not change any view for price behaviour. Macd (12,26,9) is still bullish, but we need now for some shorter oscillators to make this happen, you might watch now RSI50 level together with CCI. As you can see stock is testing now again SMA200 line. It´s been tested now once allready and second one could be a real one. Adobe product line saw huge change, biggest in it´s history and C3 product has been for sale now about 6 months. Company also brought year ago Macromedia productlines which specialize for publishing and webmaster software tools like dreamweaver is one name you might recognice. There´s usually lag with new software launches before corporation will start updating, pretty much same with microsoft Vista OS, these are very heavy programs which required also latest IT hardware update first and mostly techfreeks are only one´s in shopping after new productline launch is done. We need more agressive cross with stocastic, before stock can make this happen - until then, just wait (dynamic stockcharts located in the bottom of this post).



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