Adobe: a fresh buy signal after the breakout
Adobe gains 6.1% and clears the 240 area as a fresh buy signal kicks in
Adobe: a fresh buy signal after the breakout
Our view last week
Adobe's weekly MACD has crossed back above its own signal line after three weeks in a bearish cross — a sign of strength with some cracks, though: buyers are less convinced and the stock has slipped into distribution. Adobe shares stay boxed between support (217 area) and resistance (225 area); the Sell signal is in its fifth week of management, with the short showing a 9.6% loss.
This week's summary
Adobe shares carved out a clean double bottom in the 193 area, then rebounded 8% to set the stage. This week the stock gains 6.1% and clears resistance in the 240 area, triggering a fresh buy signal: 2nd of 20 in our US Long ranking, with high but volatile signal strength. The weekly RSI stays neutral, and confirmation is still to come.
IQS Phase
43
ordinary
Signal Strength
72
high · wide & volatile
Sizing
FULL
Ranking
#2 / 20
New us stocks
Trade P&L %
+0.00%
from signal to today
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