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Tuesday, March 13, 2007 

ADBE - 13 dma line crossed below 50 dma

Chart courtesy of stockcharts

Well, another great session for Bears. On short term I'm still Bearish on US stock markets and I think this correction isn't over. The next few days will be very important as March lows will be surely be tested and 200 dma line on Nasdaq too. I suppose !!! So be careful if you are on the Longside.

Chart courtesy of stockcharts

ADBE shares fell today 2.5% with a significant increase of volume closing at 38.65$. Looking at the chart the 13 dma line crossed below 50 dma, not a good signal for Bulls. Adobe Systems it will Webcast its first quarter fiscal year 2007 earnings conference call on March 20, 2007.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's all. Have a nice evening !!!



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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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