Adobe: Selling at 38.2% Fib Level. We look to Sell at 602.00 (stop at 627.00)
Adobe - Short Term - We look to Sell at 602.00 (stop at 627.00)
Preferred trade is to sell into rallies. Previous support, now becomes resistance at 605.00. 20 1day EMA is at 602.00. We have a 38.2% Fibonacci pullback level of 599.72 from 699.50 to 538.00. The bias is still for lower levels and we look for any gains to be limited.
Our profit targets will be 538.00 and 515.00
Resistance:600.00 / 650.00 / 700.00
Support:550.00 / 525.00 / 500.00
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