Adobe Systems testing MA200 support line
A few days ago, October 30th, we noticed Adobe Systems testing MA200 support line for the third time within 2 years.
The first time was back in December 2016, where the price tested the area of 99.00-100.00. From December 2016 till All time high around October 1st, 2018 Adobe Systems has increased in price nearly 275%.
The second and third time, Adobe Systems testing MA200 Support line was October 11th and October 30th, 2018. Both testings were successful and now we wait for buy signals.
Generally, October 2018 has been a negative month for Adobe Systems price development. And Technical we still dont have enough bullish signals to enter a buy trade.
Adobe Systems testing MA200 support line – Technical Analysis
Adobe Systems testing MA200 support line – Fundamental Analysis
Adobe Systems testing MA200 support line – MA200 Support line
Possible targets if you buy today:
1. Target, take small profit at 253.00
2. Target, take small profit at 260.00
3. Target, take medium profit at 275.00
4. Target, if price break through level 275, then let your investment run until you find a new resistance area.
If you choose to go long now, then remember to set a Stop Loss – just to protect your investments.
A Stop Loss in this situation will be just below 231.
At this point, we are waiting for another green day at the Nasdaq, before we consider to go long.
If we get signals, then we buy otherwise we will wait for a better buy entry.
BUT, no matter what, then please remember to set the Stop Loss that we recommended before.