ADBE gapped down 14% today below the 200MA. Such a huge drop has confirmed that it is correcting the whole rally from Sept 2022. Expect a bounce and further downside into the 0.5 to 0.618 retracement of this rally in the monthly timeframe. In the daily timeframe, it would coincide with the zone between 420-450 I expect in April.
Short-term bearish until April. Long-term bullish. Great opportunity for long-term investment.
Short-term bearish until April. Long-term bullish. Great opportunity for long-term investment.