Shares of Adobe Systems Incorporated (NASDAQ:ADBE)
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Posted On: 02/13/2017 11:48:05 AM
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) are a strong short based on a trend line level that the stock price is tagging. This trend line has caused a sell-off in the stock price every time it has hit. Logic dictates it will cause another sell in this case. In addition, the stock is extremely overbought and trading at a crazy P/E of 50. Expect a sharp reversal in price this week. I am going short first thing Monday morning and holding for a target of $100. The current price of Adobe Systems Incorporated is $116.85.
Stock chart of Adobe Systems Inc signals investor hard sell
Stock chart of Adobe Systems Inc signals investor hard sell
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