BUY! ADOBE SYSTEMS INC (ADBE) Nasdaq

  Report No. 1636    Analysis by: Harry Aloof     NOVEMBER 5, 2002

ADOBE SYSTEMS INC (ADBE-Nasdaq): Technical Viewpoint: From a low of $17.71 on Oct 9, 2002 prices rallied, reaching a high of $25.64 on Oct 24, 2002. A decline saw prices pull back, reaching a low of $22.10 on Oct 29, 2002. Another rally saw prices penetrate resistance, closing 11/4/02 at $27.38. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Oct 11, 2002 when the Histogram crossed the "0" line to the upside. Support: Remains at $22.75. Resistance: Is at $28.98. Point & Figure: Reversed to the upside on Nov 4, 2002. A P&F upside reversal takes place at $25.50. Summary: Technical indicators have turned bullish. BUY! ADOBE SYSTEMS INC (ADBE-Nasdaq) @ $28.50 Stop: Use a protective stop of $26.50. ADOBE SYSTEMS INC is currently trading @ $27.38 plus $2.91 on Nov 4, 2002. Price Objective: $39.50. Risk/Reward: $2.00 VS. $11.00. Today's Risk Reward Ratio: 5:1

Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study

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Price Objective:
$39.50 Risk/Reward:
$2.00 VS. $11.00 Risk/Reward Ratio:
5:1
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