The $500 question: Technical insights into Adobe's plunge

Adobe Inc (NASDAQ: ADBE), the creative software giant, saw a significant drop in its stock value by over 13% on Friday following the release of its financial results for the first quarter of 2024.Despite surpassing analysts’ projections for both revenue and earnings during this period, investors were taken aback by the company’s less optimistic forecast for the upcoming quarter. Moreover, mounting apprehensions regarding increased competition from generative AI technologies and uncertainties surrounding the ...