Stock Chart Analysis ADBE

Posted by downtowntrader | 5/07/2007 09:23:00 PM | 0 comments »

Stock Chart Analysis ADBE

Adobe Systems Incorporated (Public, NASDAQ:ADBE)

ADBE has been trading in a base for about 6 or 7 months now, after a breakaway gap last September. It has narrowed it's range considerably the past two months and may be ready to test a breakout from the trading range. It has pulled back to the lower bollinger band and rising 50 day simple moving average, while working it's way into an oversold condition. An oversold stock, sitting on potential support, and only a few points from all time highs makes for an interesting situation.

Good Trading,