Adobe is well on the way to completing wave B in green, although the course still has got some room to expand the current movement. However, before the resistance at $402.49 at the latest, it should turn downwards again. Thus, the share should drop below the support at $278.23 and into the adjacent gray zone between $278.96 and $227.74, where it should then conclude wave b in gray. There is a 32% chance, though, for Adobe to continue the ascent above the resistance at $402.49. In that case, we would consider wave alt.b in gray to be already finished.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.