( Yesterday close ) Chart courtesy of stockcharts

Shares of Adobe Systems are very active today after company said on Monday that it is replacing Chief Executive Officer Bruce Chizen by Shantanu Narayen. It will be very interesting to see the close of stock after this news, because stock closed yesterday on its 200 dma, finding here a close support after recent declines, so keep an eye on this stock for a possible breakdown of these levels. Overall picture still bearish, however we can see some improvement at these levels, because indicators are now in oversold conditions, so a possible short covering could occur soon.

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