Lower Lows Ahead for Adobe Systems Incorporated (NASDAQ: ADBE) Says Market Timer Frank Kollar

July 9, 2008 (FinancialWire) (By Frank Kollar)

Shares of Adobe Systems Incorporated (NASDAQ: ADBE) have declined with the rest of the stock market but with a 10% loss from their 2008 highs, Adobe has held up better than most.

Where can traders expect to see a reversal in Adobe shares?

Adobe will reach strong support at about $37.75. It will reach critical support at $36.11. A reversal from these levels is likely unless the stock market hits considerably lower lows and drags Adobe down with it.

Watch for a reversal pattern for a bullish trade in coming weeks, using supports as a likely sell stop, but if Adobe closes below $36.00 a share, it will likely drop considerably further

Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.

Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.