Adobe: sharp drop, but the double bottom calls for caution

Adobe receives a fresh weekly sell signal, ranking 57th among the 114 sell signals for US stocks. This week's decline was among the sharpest: signal strength at 95 out of 100, to be read as possible exhaustion of the move, not as confirmation of the downtrend. On the daily chart a double bottom in the 232 area is forming, with buyers dominating at 81% in the last session. The quality band signals trading not recommended and the confirmation week is still in progress.