ADBE on the support at 440 and will be revisiting the key levelMarket Instrument: ADBE
Timeframe: Weekly
Analysis: Technical
Structure: Support and Reversal
Prediction: Bullish
ADBE has found the support at 440. The following support level is very clear on both daily and weekly timeframes. Here the bullish candle closing is a good indication for a rally ahead. The target expected during the run is back towards the key level formed at 525
ADBE
Adobe (NASDAQ: $ADBE) Got Room For Growth '22 🎨Adobe Inc. operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform. Its flagship product is Creative Cloud, a subscription service that allows members to access its creative products. This segment serves content creators, workers, marketers, educators, enthusiasts, communicators, and consumers. The Digital Experience segment provides an integrated platform and set of applications and services that enable brands and businesses to create, manage, execute, measure, monetize, and optimize customer experiences from analytics to commerce. This segment serves marketers, advertisers, agencies, publishers, merchandisers, merchants, web analysts, data scientists, developers, and executives across the C-suite. The Publishing and Advertising segment offers products and services, such as e-learning solutions, technical document publishing, web conferencing, document and forms platform, web application development, and high-end printing, as well as Advertising Cloud offerings. The company offers its products and services directly to enterprise customers through its sales force and local field offices, as well as to end users through app stores and through its website at adobe.com. It also distributes products and services through a network of distributors, value-added resellers, systems integrators, software vendors and developers, retailers, and original equipment manufacturers. The company was formerly known as Adobe Systems Incorporated and changed its name to Adobe Inc. in October 2018. Adobe Inc. was founded in 1982 and is headquartered in San Jose, California.
TechaverseThe probability of a tech recovery is increasing. The sky isn't falling yet and inflation is going to be assumed to be peaking. Plus the end of the pandemic is in sight. Sentiment might start to shift soon. There are risks, as there always are, but they can be delayed much longer than expected and aren't much different than usual. Here are some names I am interested in at these levels
Adobe
Amazon
Shopify
Google
Metabook
Adobe: Selling at 38.2% Fib LevelAdobe - Short Term - We look to Sell at 602.00 (stop at 627.00)
Preferred trade is to sell into rallies. Previous support, now becomes resistance at 605.00. 20 1day EMA is at 602.00. We have a 38.2% Fibonacci pullback level of 599.72 from 699.50 to 538.00. The bias is still for lower levels and we look for any gains to be limited.
Our profit targets will be 538.00 and 515.00
Resistance: 600.00 / 650.00 / 700.00
Support: 550.00 / 525.00 / 500.00
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ADBE looks interesting hereAdobe is down 26% from highs and has just returned to a long-term support zone (ADBE traded in this range for almost a year). Lower indicators suggest this is a good range to consider a long. My only hesitation is an all-but-certain looming Death Cross (where the 50 EMA crosses below the 200 EMA). ADBE hasn't seen a Death Cross on the Daily Chart since July 2011 where it subsequently spent about half a year in a bear market. The Death Cross *can* be avoided, but it would take a substantial bounce. I expect the Death Cross will happen, but I can see at least a moderate bounce as bulls try to make their case. I'm considering a small position here.
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These are my personal views and not financial advice. Please do your own research before investing.
I'd love to hear your thoughts, ideas and feedback. Feel free to Comment and I'll try and get back to you quickly.
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ADBE RETEST AGAIN AND BOUNCE BACK FROM STRONG SUPPORTAdobe Systems Incorporated (ADBE) is a large diversified software company that operates worldwide. The company deals in digital media and cloud services that allow customers to access the latest versions of its creative products. The stock had been a big winner over the last couple of years, more than doubling since the start of 2020. However, a recent disappointment in earnings erased the last few months of gains. With earnings estimates starting to fall, investors are now concerned that the bull run might be over.
The guidance forced analysts to drop earnings estimates for all time frames. For the next quarter, we have seen just a 1% drop over the last month, falling from $3.37 to $3.34.
But the stock bounce back after the false breakout and step again above $550.00 per share and above 50-Fibonacci retracement level drawn from March 2021. The stock gapped lower after EPS and then took out the 200-day MA and continued to lows not seen since June. If the bears want to push this stock lower, they must take that $550 level out and could push to the $450-500 area.
If the bulls want to gain some traction back, they need to take the $593.00 and 61.8 Fibonacci retracement level and then fill the gap at $600. Our statistic software notes a bullish pattern with a peak return of 4% in 1 month and a probability of 72%. Until then, the sellers will stick around.
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Bearish on Adobe. ADBEWe are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
ADBE Long - Bullish
I decided to enter a long trade on ADBE before the market closed today. ADBE is a fundamentally strong company with a wide moat/competitive advantage. Despite the company beating its most recent Earning estimates, the price of Adobe dropped by -23.50% ($164) from its previous high ($702) over the last 29 days. Due to the strong fundamentals I believe that the current correction was an irrational one and typical of market behaviour in the short term. In the short term the stock markets are not guided through rational price movements, rather its driven by market manipulation, news and events. Due to the above I was satisfied with the current short term discount of ADBE it is currently below its intrinsic value.
In addition to the fundamentals discussed above, the technical analysis shows a potential reversal in the stock price. My conclusion comes from examining the following and as shown on the attached chart image/link:
- Fibonacci Retracement
- Bounce of the 50 SMA on Weekly Candles
- Bounce of the previous resistance/current support level
- Breach of the previous swing low candle and price reversal above it
- Bullish Hammer candle pattern
Due to the above and as per my image attached, I believe ADBE will go long, my profit target exit price on the trade is denoted by the TP levels in the attached image @ approximately: $615, $640 or $660.
I entered a long trade with 100 shares. Hopefully this has been helpful for the trading community.
Thank you,
Bojan Cerberus
Software at 200sma + HorizontalIGV, a Software based ETF, is currently at the 200sma which has shown support before. It is also at horizontal support from February highs.
Trade setup is drawn in chart. The risk-reward-ratio is above 4.
Top 10 holdings
MSFT (10%)
CRM (9%)
ADBE (9%)
INTU (7%)
ORCL (6%)
NOW (5%)
ADSK (2%)
PANW (2%)
SNPS (2%)
WDAY (2%)
Good luck.
ADBE - STOCKS - 27. OCT. 2021Welcome to our Weekly V2-Trade Setup ( ADBE ) !
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4 HOUR
Bullish price action!
DAILY
Closed above main support level..
WEEKLY
Looking for another wave!
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STOCK SETUP
BUY ADBE
ENTRY LEVEL @ 640.82
SL @ 593.48
TP @ Open
Max Risk: 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
ADBE Potential ATH BreakoutWatching for a break above all time highs for a bullish move.
Using Fibonacci extensions to gather future price targets.
The 1.13 fib will act as the level where we should watch for a retest of the breakpoint.
The 1.618 will act as a longer term target.
If needed, use the 1.27 to get a shorter term target.
Let's all buy a metric shit ton of $CRM and get rich.This is a chart of $CRM. The bars pattern is of $FTNT. You can do this with $ADBE and a number of other tech stocks as well. You'll probably notice $ADBE is leading, I'm betting $CRM will follow. Both will catch up to $FTNT.
The structure is ready, we've been drawing this bull flag forever. We've lost all hope in stocks. Biden flushed everyone out that is scared of a little tax bump but only poors worry about taxes... they sold the bottom. It's time.