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
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