[20] ADBE, PONY, TEM
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Second of the week! Let’s review a few more names:
Adobe Inc. (NASDAQ: ADBE)
ADBE is back into its long-term support trendline dating back to 1987. Its monthly RSI is now the second-most oversold in its history, and in extreme oversold conditions on the weekly.
ADBE is consolidating in a descending broadening pattern and below 2 resistance trendlines, with the main one dating back to its Jan'24 ATH.
It's currently back into the 254.13-254.54 monthly support. Should this area be lost, it could push back into the 233.45 Fib level and the confluence of quarterly levels around there. This would also represent a structural breakdown which could see longer-term downside, based on other historical charts.
However, if ADBE holds this monthly support, it could come back into the nearer-term resistance trendline and retest the 332.88 yearly level from below.
For a recovery to take place on ADBE, it'd need to minimally break out of the nearer-term resistance trendline and revert back to the Fib level at 405.13.
Pony AI Inc. (NASDAQ: PONY)
PONY is currently consolidating in a massive box between the 10.73 Fib level and the 21.44 high from May'25.
On the daily timeframe, PONY is trading below the red resistance trendline and within the green ascending channel.
It rejected off the 14.82 Fib level and is likely to see further downside into channel support and the 13.22 weekly level next.
If the channel breaks down, PONY could find itself trending back towards the 12.77 Fib level.
If PONY breaks out of its resistance trendline, it could find itself back at the 2024 IPO candle high of 16.47, with time.
Tempus AI, Inc. (NASDAQ: TEM)
TEM has been in a prolonged correction since it rejected below the 2024 IPO candle high of 79.49 in November last year.
It's currently wedged between 2 different long-term support trendlines while holding the Fib level at 51.19.
On the daily chart, TEM is also trending below 2 resistance trendlines, with the main resistance trendline being the one from the ATH created in October last year.
If TEM holds the 51.19 Fib level, it could retest the confluence of both resistance trendlines and the 57.87 Fib level. A breakout should likely result in an attempt to reclaim the lost support trendline.
However, if TEM loses the 51.19 and the second support trendline, it could head into the 50.05 weekly level and start filling the weekly imbalance down to 44.77.
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$Adobe(ADBE)$ $Pony AI Inc(PONY)$ $Tempus AI(TEM)$ $NVIDIA(NVDA)$ $Advanced Micro Devices(AMD)$
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