Adobe Wave Analysis – 15 September, 2022

• Adobe broke multi-month support level 350.00

• Likely to fall to support level 300.00

Adobe today opened with the sharp downward gap, which broke below the key multi-month support level 350.00 (which stopped wave (5) in the middle of June).

The breakout of the support level 350.00 accelerated the active intermediate impulse wave (3), which then broke the daily down channel from February.

Adobe can be expected to fall further toward the next round support level 300.00 (target for the completion of the intermediate impulse wave (3)).