Adobe ( ADBE) reported disappointing earnings and the price has tumbled Thursday. We reviewed the charts of ADBE yesterday and recommended that "I have no special knowledge of what ADBE is going to report Thursday morning but the charts and indicators are not bullish. I would stand aside for now." Let's see how things have changed. 
In this updated daily bar chart of ADBE, below, we can see that prices gapped lower this morning and are testing the rising 200-day moving average line. Trading volume has been heavy this month but the On-Balance-Volume (OBV) line has been fairly steady. The Moving Average Convergence Divergence (MACD) oscillator has fallen below the zero line for an outright sell signal.
In this weekly Japanese candlestick chart of ADBE, below, we can see a long red (bearish) candle and test of the 40-week moving average line. The weekly OBV line shows a peak at the end of August and the MACD oscillator is weakening.
In this daily Point and Figure chart of ADBE, below, we can see today's decline with no price gap. A downside price target in the $527 area is being projected.
In this weekly Point and Figure chart of ADBE, below, we see that the software is projecting the $511 area as a longer-term price target.
Bottom line strategy: Could ADBE stabilize around the 200-day moving average line - sure. But the charts are weak and pointed lower. Continue to avoid the long side of ADBE until we see definite signs of a tradeable low or bottom.
