ADBE hits a new high ADBE had been trading sideways for the past 2 months, while forming a common pattern known as a rectangle. A minimum of (2) successful tests of the support and (2) successful tests of the resistance will give you the pattern. ADBE’s rectangle pattern had formed a $98 resistance (green) and a $92 support (blue). The break above $98 was a new 52-week high, and should lead to higher prices for the stock.The Tale of the Tape: ADBE broke out of its rectangle pattern. The possible long position on the stock would be on a pullback to $98, with a stop placed under that level.Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!Good luck!Christian Tharp, CMT@cmtstockcoach