Riding The Wave: Adobe’s Impressive Rally And What’s Coming Next

Hello everyone! In today’s article, we will follow up on the past performance of Adobe Inc. (ADBE) forecast. We will also review the latest daily count. First, let’s take a look at how we analyzed it back in March 2024. depositphotos Adobe DAILY ELLIOTT WAVE VIEW – MARCH 2024:In our last article, we explained that $ADBE was about to reach the Blue Box area at $474.63 – $406.26. A bounce was anticipated at these levels. This area was a critical support zone identified by our proprietary Elliott Wave analysis. Adobe DAILY ELLIOTT WAVE VIEW – JULY 15, 2024:The latest daily update confirms that $ADBE has ended the cycle lower after bouncing from the Blue Box area. As a result, the stock has moved higher, allowing long positions to become risk-free. We expect $ADBE to rally in one more push to make a 5-wave pattern before another pullback occurs. Traders should look for re-entry opportunities at black ((2)) in 3 or 7 swings. Moreover, a break above the all-time highs (ATHs) will start a bullish sequence towards the $797 – $1021 range.More By This Author:USD/JPY Tumbles Amid Suspected Japanese Intervention And Weak US CPI DataAUD/USD Analysis: Slight Dip Amid Commodity Pressure, But Bullish Outlook RemainsUSD/JPY Holds Steady As Markets Digest Japanese Wage Data And BOJ Speculation