BY LICIA LESLIE
November 29, 2023
Hi Shoppers,
Adobe (Ticker: ADBE) has broken out of a trading range it had been in since July.
It is actually 50 bucks higher than the top of that range which is almost 9%:
I am seeing the next resistance level in ADBE in another 50 bucks at $674.
According to my pitchfork, ADBE has the potential to trade up to $780:
It may take a while, obviously, but as long as it gets some solid closes over $625-$630 it is going higher.
Watch the red median line as it is providing some resistance here.
Trade Review
So, I had written my previous newsletter prematurely for the holiday weekend and Shopify (Ticker: SHOP) did not end up with a doji on the close on Wednesday. It has actually busted out and is trading higher.
Looks like next stop is $78.
Fortinet (Ticker: FTNT) is still looking to close the gap.
Thanks for Reading … See You Next Tuesday,
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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