Adobe technical buy point prepareno reason just for technical rebounce, skip this idea if the Q1 season report getting close
ADBE34 trade ideas
ADBE Further Downside?Looking at a triple top for ADBE in day view, followed by a breakdown below both the 20 and 200 day MA. Looks to have found support at 420, but hit the top of the downward trend line and is sitting at a previously established support level around 445. If ADBE fails to break up and follows the downward trend line, it will be forced to retest 420. If it fails and breaks down, the next support is at 385 and is weak, with the next strong support being around 320 from all the way back in April '20. If 420 fails, there is a probable 5% downside and possible 13%, if not more.
The RSI is showing weakness, while the Stoch, MACD, and Madrid sentiment are all beginning to do the same. I will be watching for a potential short opportunity in the next few days.
Many other charts, including TSLA, AMZN, NFLX, PYPL, NVDA, AAPL, PDD, ASML, are all showing similar weakness (the largest caps on the IXIC), while INTC is failing to break up through its most recent resistance. CMCSA, another large cap IXIC, appears to be strong but showing overbought on the RSI and Stoch.
Buckle up, it could be a rough week.
Symmetrical Triangle Rising Wedge Earnings 3-23Earnings on 3-23 AMC
Not sure what is up, or down )o: with ADBE. Perhaps market just felt it was high enough, for now anyway.
Maybe earnings will help this one.
Breaking to the upside from the rising wedge a while back is probably not helping. Rising wedges are usually long term patterns, but terminal in the end. Rising wedges affect supply and demand which is the heart of the market. They are not valid until bottom trendline is broken. ADBE has broken the bottom trendline. A strong stock does not fall that far as a rule. The definition of "not far" can vary )o: Rising wedges are caused by too much buying and lack of healthy pull backs, irrational exuberance. Sometimes the wedge does not affect the stock for a long time. Seems to hit most when a pull back occurs, and the pull back can be somewhat devastating. Perhaps there are not enough buyers left because everyone has already bought it? Then the panic selling kicks in?
No recommendation
ADBE ADBE seems ready to fly. Could be a contender for an earnings play call option: 03/26/21 482.50 C.
RectangleADBE appears to have been in a symmetrical triangle, then broke up from the triangle briefly, came back in and then broke down from the triangle.
ADBE looks to be bouncing around between the trendlines of a rectangle or a horizontal trading channel.
You can find mid rectangle by subtracting the lower boundary from the upper boundary. This can make a good stop whichever way this breaks.
Rectangles are a neutral pattern like a symmetrical triangle until a break occurs one way or the other.
No recommendations
ADBE - Long for the Long-termHave just initiated a long postion on ADBE. Strong company that has shown resilience over the last year. I see this as a good entry point upon market shake-off.
Some fundamental stats that make me bullish and positive on this one (as of Feb2021):
- 3 Year EPS Growth Rate: 29%
- 3-Year Sales Growth Rate21%
- Annual Pre -Tax Margin42.3%
- Healthy CashFlow from Operation, which leaves enough room for further investment
Adobe channel trade / Dip buyBought the dip on Adobe today after the Nasdaq found its bottom near 12985 fib.
swinging this out to channel top for a 7%move. highlighted last few channel bottom touches.
stop loss 458
Long ADBE trigger & PTsADBE had a bit of a selloff on Friday. Here are the levels I'm watching for ADBE for next week.
#RedDevilTrades
possible inverse H&S on ADBEAdobe is currently testing the neckline on the possible inverse head and should, some might argue that it is a pennant formation . its ok ...what we need to see , is the market breaking with vol and close above the neckline, to avoid false breakouts , we need to allow the market to retrace and find support
Adobe break outThey really snuck that money in the last 10 mins . Alert kicked in at 497 , i entered at 498. If the market holds up I expect a big week from adobe and wouldn't be surprise if some great company specific news arises. link to my previous post on this and explain down below.
Stop loss at 495
Bite dustIs there anything good about this chart? I mean seriously! The short has been on for a while since ShawnZ signalled sell on the daily and weekly. Since then, it has been setting lower lows and lower highs. Will Monday be any different? Given the entire market is weak, why would anyone buy this? From TA perspective, the only daily SMA left below this stock is the 200 daily SMA. I am bearish on this stock. Its Daily, Weekly and Monthly suck. If we are midst of a simple pullback in the overall market, a 10-15% retrace is possible. If conditions worsen, who knows. No positions.
Caveat emptor and good luck!
Watching a very clear bull flag consolidation periodThis is very likely a bullish trend, but it's better to react on a bull break. Any sort of market uneasiness could cause a bear break, so don't count your chickens before they hatch!
If consolidation continues, then we should get a break within 1-3 months.
$ADBE basing for another move higherAfter basing for the past 6 months, it looks ready to go north yet again.
ADBE reached our targetFinally, $ADBE reached our target, I am expecting the market to be volatile in the coming days so this one can cool off, however, the long term view on $ADBE remains bullish
ADBE in focus!Adobe is not acting well compared to overall market but it is acting very well with it's tight price action. make sure to set an alarm to play this break out. last earning hand 74% surprise. not actionable right now but if the market pulls back and adobe shows relative strength will add a position.
ADBE attempts to break outAfter consolidating for a good 5 months since September 2020, ADBE appears to be attempting a breakout (finally) out of the symmetrical triangle. If it can hold on to 500 for a couple of days, that will confirm the breakout.
$ADBE 5 Months Symmetrical TriangleAdobe has been moving sideways in the last 5+ months forming a symmetrical triangle pattern . The stock has been in hibernation similar to $NVDA but that was not the case from 2011 to 2020 when the stock had a 2230+% run! A breakout from the 5 months symmetrical triangle to the upside could signal the end of this consolidation phase and the start of yet another leg higher.
ADBE entry LEVELS LONGADBE is waiting for the next movement. Let's see if we hold UPTREND. You can BUY with a breakthrough, but it is pretty risky. Better to wait and start BUYing around $452. If we go lower next SUPPORT is $438.
LEVELS LONG:
$452
$438
$425 - STRONG BUY
$417 - STRONG BUY
