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For today's chart we've chosen to take a look at Adobe Systems Inc (Nasdaq:ADBE) because it is trading near an influential level of support. We expect that this stock will be added to the watchlist of many traders because it has been trading within a defined trading range ($32 - $36.50) over the past few months. It will be interesting to see if the price will be able to bounce off the trendline and make a move higher like it did in February.

On the other hand, we believe that bearish traders will wait patiently for several consecutive closes below the $32 level before positioning themselves to profit from a continuation of the downtrend.


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