Adobe Systems Bear Flag Daily Chart
Adobe Systems Incorporated (NASDAQ:ADBE) has a classic bear flag on the daily chart. This is coming off of a reversal candle from last week. These signals show a very bearish setup for the coming days. Also, please note that Adobe is flat on the day while the markets are nicely higher. This is another weak signal to pay attention to called relative weakness.
Look for a down move into next week the potential to reach the $61.00 level on a larger drop in the markets.