Adobe Wave Analysis – 23 February, 2022

• Adobe under bearish pressure

• Likely to fall to support level 420.00

Adobe under the bearish pressure following the earlier breakout of the support area located between the support level 480.00 (which stopped the price twice in January) and the support level 469.00 (former monthly low from May).

The breakout of this support area accelerated the active impulse waves 5 and (C).

Given the strength of the active intermediate impulse (C) – Adobe can be expected to fall further toward the next support level 420.00 (target for the completion of the active impulse wave (C)).