ADOBE - WENT BULLISH EARLIER DUE TO FALLING WEDGE BREAKOUT

20 בנוב׳

TECHNICAL INDICATORS -

1. FALLING WEDGE PATTERN BREAKOUT -
   Adobe broke out of falling wedge pattern on 2nd & 3rd nov with strong confirmation (2 consecutive moderate sized green candlesticks)
   
   
2. STRONG SUPPORT-RESISTANCE ZONE BREAKOUT -
   alongwith the chart pattern the stock also broke out of a strong support-resistance zone 2 days after the breakout (the zone was tested earlier on 4th & 5th oct) which confirmed strong upside momentum behind the stock
   
   
3. PROFIT TARGET -
   the stock went upwards for 68 points (the max width of the falling wedge) till 624.72 and went beyond