EW analysis - Adobe ready to bull again?
Today I want to take a look at Adobe because I think it could soon become interesting again.
First we want to take a look at the long term picture. We can see that in november 2021 a decade long bull run found its end. On log chart we can definitely mark this bull run as a wave 3.
The ensuing correction is than wave 4 of a supercycle.
The interesting question is, if this wave for has already ended or wether there is more to come to the downside.
I think that wave 4 is finished for two important criteria are met.
Either way in the medium to short term more gains should follow. Then in september or october we will see which direction adobe will take.
So here are both options:
The bullish variation, which I favor although the last move up doesn't like a convincing impulse.
And here the bearisch variation in which the previous move down was only wave A of an even deeper correction. In this case Adobe might even half.
First we want to take a look at the long term picture. We can see that in november 2021 a decade long bull run found its end. On log chart we can definitely mark this bull run as a wave 3.
The ensuing correction is than wave 4 of a supercycle.
The interesting question is, if this wave for has already ended or wether there is more to come to the downside.
I think that wave 4 is finished for two important criteria are met.
Wave 4 almost reached the trough of the preceding wave 4 of one degree lower.
Wave 4 already retraced 61.8 oft the preceding wave III
Either way in the medium to short term more gains should follow. Then in september or october we will see which direction adobe will take.
So here are both options:
The bullish variation, which I favor although the last move up doesn't like a convincing impulse.
And here the bearisch variation in which the previous move down was only wave A of an even deeper correction. In this case Adobe might even half.
כתב ויתור
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