ADBE closes within previous day's range


Technical Analysis Report for ADBE - May 17, 2018 [< 1 min read]
Highlights
ADBE closes below its opening price unable to hold early session gains
ADBE closes within previous day's range
ADBE ends the day indecisive
TQ Sentiment
Technical Forecast:
Overview

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.

Daily chart for ADBE
Volatility

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.

Price Action

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Selling could accelerate should prices move below the nearby swing low at 233.00 where further sell stops might get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
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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