ADOBE: Pull back to the 1D MA50 unless the High breaks.
Adobe is consolidating after the June 16th high that was the peak of an enormous 1 month rally. The 1D timeframe has started to normalize (RSI = 68.673, MACD = 19.860, ADX = 22.091) the previously overbought condition but technically there is still some way to go before we reach a low risk buy entry.
We believe that is near the 1D MA50, so we are turning bearish (TP = 450.00). If the 518.55 High breaks however, we will take the loss and go long instead targeting the Resistance (TP = 580.00).
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We believe that is near the 1D MA50, so we are turning bearish (TP = 450.00). If the 518.55 High breaks however, we will take the loss and go long instead targeting the Resistance (TP = 580.00).
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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