Rising WedgeADBE beat earnings a few days ago...yet the stock is going down? Possible Parabolic Arc. Strong stock so perhaps it's bottom is not too far away
Rising wedge patterns can be bearish as there are not enough pull backs. I was trying to draw support lines but it was difficult to find several daily candles in a row as it seems ADBE never pulled back long enough to form support.
The bottom trend line of the wedge is at 430ish and sometimes they find support there. It will most likely pierce this level though and could go down quite a bit more. 413ish to 383ish may provide support. Break out level for the prior V Bottom may also provide support
Irrational exuberance causes Parabolic arcs and rising wedges
The trend is your friend until it is not
Not a recommendation
