ADBE Key Levels and is it time to go long?Adobe on Weekly.
1) Down by 43% from ATH.
2) If we do a fib retracement from covid lows to ATH, you see the current price is hovering within the golden pocket(.618 and.50)
3) Price is consolidating above 200 EMA and also above 200 SMA .
4) This has been a support zone in the past on multiple occasions.
5). This would be a very key level to watch, if it breaks below-- it can go down to 395sh levels-200 MA level.
6) Price is below AVWAP from covid low- acting as resistance.
7) I see RSI and MACD showing signs of reversal, but not yet.
8) Watching levels 430 for upside and 410 for the downside.
On the Fundamentals.. this company is projected to have an EPS of 15% for the next 5 years. Not bad of a growth
