I will be looking for 54 / 55 range as it sells off from a strong open ..
Only good thing in the report is the cloud subscriptions ..
All other metrics on future EPS guidance, revenues are down .. But for now the market is giving huge credit / faith on the subscriptions
look the people saying 51 and people saying 60 both could be correct. in fact it traded at 51s AH before spike up to 58s
Also don't forget many stocks sell off following earnings spikes owing to no near term catalysts and quiet period ending and insiders are being allowed to SELL .. I am sure there will be insiders who would like to sell as soon as Monday for some HOLIDAY cash!
When we have all market participants we will see how strong this move is . Look at it on a monthly chart and you will understand . When they break key pivots ,it will tend to test break out area . This is how stocks trade . Now watch the first five minutes after open and first 15 min highs and lows and trade the direction of the break if can not hold open and 9:45 low
I intend to look at ADBE in the morning. Based on the after hours numbers, ADBE has jumped from being under the 50 DMA to above the 50 DMA. Since tomorrow is Friday I likely won't start a position. It will be interesting to see if there is active institutional selling, especially if ADBE opens near or above the after hours ADBE trades.