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$ADBE - Watching this 255.50-256 area for a hold
Hey everyone, been keeping an eye on $ADBE today. It's been a bit of a rollercoaster, touching that 261 earlier and now pulling back. What's catching my attention is this area around 255.50-256. It felt like some pretty solid support on the daily chart not too long ago, and it's also roughly the low we saw earlier today around 255.55.
I'm curious to see if this level can act as a floor if we get further weakness. If it holds, maybe we get another attempt at the daily high or even push into the prior range. However, if we get a decisive break below say 255 and start closing candles there, I'd consider that scenario invalidated pretty quickly. Just my thoughts, anyone else watching this range?
1 comments · 14 points
Yeah, I'm with you on that. It's a key area to watch. I'm wondering if the broader market sentiment might push it lower even if that level holds temporarily, or if there's enough institutional interest to keep it above.