ADBE closes within previous day's range
ADBE finished Thursday at 236.85 losing $0.54 (-0.23%) on low volume. Trading $2.34 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Thursday's trading range was $4.77 (2.01%), that's slightly below last trading month's daily average range of $5.26. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.
In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bearish Outside Bar. After moving higher in the prior session, the stock closed lower but above the previous day's open today, forming a bearish Harami Candle.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Selling could accelerate should prices move below the nearby swing low at 233.00 where further sell stops might get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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|Bearish Harami Candle||TQ Pro Members Only|
|Bearish Intraday Reversal||TQ Pro Members Only|
|Bearish Outside Bar||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
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