Adobe Slides to New Lows as Bearish Cycle Matures

Adobe is selling off sharply at the start of the year and is now breaking below the November 2025 lows, which suggests that the wave four structure we were tracking has most likely ended, probably as a triangle. This opens the door for a fifth wave lower, which would be the final leg of a higher-degree bearish wave C cycle. On the weekly chart there is still room for further downside, with potential support coming in around 276, and possibly even closer to the 240 area, before the market may start to stabilize later this year. A deeper move below the 2023 is definitely something we need before we may look to complete the downtrend.

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Highlights:
Price is breaking below November 2025 lows, confirming renewed bearish momentum
Wave four likely completed as a triangle, fifth wave lower now in progress
Key downside targets to watch are around 276 and potentially the 240 area
Larger base later in the year, after we break below 2023 lows