Here's How To Trade Adobe's Downgrade
InTheMoneyStocks.com | Oct 16, 2017 03:25PM ET
Software giant Adobe Systems Incorporated (NASDAQ:ADBE) saw heavy selling pressure after Monday's U.S. open, when Deutsche Bank (DE:DBKGn) downgraded the stock to 'Hold' from 'Buy.' Half-way through the day, Adobe had shed about 2.80 percent.h3 Options Expiration Ahead/h3
Traders should note that October options expire this Friday and many stocks will either get hit or benefit by the inevitable upgrades and downgrades that will occur this week. Unfortunately, ADBE was first in line for the bad news and has suffered for it. Traders and investors should now watch for daily chart support around the $146.85 level.
Just remember that daily chart support levels are usually good for three to five trading days.
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