Adobe Systems. Massive breakout followed by a significant retracement. Is now the time to buy?
In the last two months, Adobe has retraced back to the 6M-D point of control. The most-traded area by time over 6 months. See Fig A.
This could well be an interesting area to buy if you remain bullish on Adobe. Not only supported by the 6M QDH 68% level, but you have ever-increasing support below as you you are on the East side of the longer-term bell curve as indicated by the second slide below this one.
The visual below provides a longer-term perspective which compares a 12m trading activity speedo with a 24m speedo. A key advantage to Edge is that you are able to see a lot of information in one visual which simply would not be possible with charts. In this case, we can see through the QTAP icons – that shows where the market has traded most over different time frames – that the break out took place from all the longer-term consensus areas. See figure A. This is a very familiar pattern.
This is only one of the many visuals we are able to show on Edge providing you with unique insights that charts simply cannot show. If you want to cut out the noise and get more incisive analysis contact us and we will be delighted to tell you more and set you up with a free trial.