Hello everyone! In today’s article, we will follow up on the past performance of Adobe Inc. ($ADBE) forecast. We will also review the latest daily count. First, let’s take a look at how we analyzed it back in March 2024.
$ADBE Daily Elliott Wave View – March 2024:
In our last article, we explained that $ADBE was about to reach the Blue Box area at $474.63 – $406.26. A bounce was anticipated at these levels. This area was a critical support zone identified by our proprietary Elliott Wave analysis.
$ADBE Daily Elliott Wave View – July 15, 2024:
The latest daily update confirms that $ADBE has ended the cycle lower after bouncing from the Blue Box area. As a result, the stock has moved higher, allowing long positions to become risk-free. We expect $ADBE to rally in one more push to make a 5-wave pattern before another pullback occurs. Traders should look for re-entry opportunities at black ((2)) in 3 or 7 swings. Moreover, a break above the all-time highs (ATHs) will start a bullish sequence towards the $797 – $1021 range.
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