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Adobe Inc.
Long

ADOBE - WENT BULLISH EARLIER DUE TO FALLING WEDGE BREAKOUT

By peace_lover
TECHNICAL INDICATORS -
  1. FALLING WEDGE PATTERN BREAKOUT -
    Adobe broke out of falling wedge pattern on 2nd & 3rd nov with strong confirmation (2 consecutive moderate sized green candlesticks)

  2. STRONG SUPPORT-RESISTANCE ZONE BREAKOUT -
    alongwith the chart pattern the stock also broke out of a strong support-resistance zone 2 days after the breakout (the zone was tested earlier on 4th & 5th oct) which confirmed strong upside momentum behind the stock

  3. PROFIT TARGET -
    the stock went upwards for 68 points (the max width of the falling wedge) till 624.72 and went beyond
Technical IndicatorsSupport and ResistanceWedge
peace_lover
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