Tuesday, July 12, 2005

ADBE Rally

i've been following ADBE's rally for the last couple days. the stock finally stopped tanking after making a strong bounce off the $26.50 support. as it approaches the ~$28.75 resistance, we want to see if it can continue to rally to the 25 and 50 EMA. if there is some selling at the $28.75 resistance, will it continue inching back to the EMAs? the technicals claim that its not overbought, but that its not really totally oversold either. cramer went out of his way to rec ADBE. i dont know how much effect that will have though, because hes been very bullish of techs in general lately. i dont really have much else to say.. just something else to look at tmw. oh hmm i just noticed that ADBE's chart kinda resembles a head and shoulders graph. interesting.


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