ADBE ADBE, as well as other tech stocks, was beaten hard over the last couple of months. The earnings recently did not provide any relief for the chart either, although the figures were not particularly bad. In particular, the possible prospect of finally being able to expand and monetize Adobe's own AI “Firefly” continues to offer good opportunities.With a PE of now under 20, Adobe has become quite favorable as a company that continues to grow well in the SaaS sector. It has also reached several technical support zones. We are at the lower edge of a very large bull flag that has been in place since the beginning of 2024. Horizontal support at $385 is also supportive. We have 3 large daily gaps in the chart above us and a bullish wedge within the flag. This is a good place to start buying for a possible bounce towards $465.
However, one must bear in mind that the overall market remains bearish. Purchases should therefore be closely hedged and not be too large. However, it would be wrong not to use this opportunity to enter the market.
Target Zones
- $465.00
Support Zones
- $385.00
- $360.00
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.