Adobe gets an upgrade ahead of earnings, but one chart shows it could be headed for a pullback

SectorFinancial Markets

Software stocks are showing some signs of life.Shares of industry giants Oracle and Adobe popped early Friday on optimism around their earnings results before reversing course later in the day. The iShares Expanded Tech-Software ETF (IGV), the biggest software ETF on the market by assets, has lost more than 11% since the broader tech sell-off began on Sept. 3. Adobe and Oracle are its second and fourth-largest holdings, respectively.Oracle's stock hit an all-time high Friday after its Thursday evening report showed a return to growth for the $175 billion company. Its share price surged 7.5% in Monday's premarket a day after reports that ByteDance has chose Oracle to be TikTok's U.S. technology partner.  Adobe caught an upgrade from analysts at Cowen ahead of its earnings report next week. The firm cited more...