0R2Y trade ideas
Adobe breakoutShowing an overall Symmetrical triangle pattern but inside I've spotted an inverted head and shoulder pattern. This break out could be huge. My entry point would Be 506 with stop loss at 500.
Overall breakout might depend on market conditions. It'll be hard to breakout with the Nasdaq down 50-100 points unless some company specific news surface
Pending Pennant Breakout?Following a 6-month consolidation and a successful re-test of the 50 period Weekly SMA, a bullish break of the pennant favors a move toward the Yearly R1 @ 605
ADBE Preparing to Breakout off RetracementNASDAQ:ADBE FWB:ADB NASDAQ:ADBE
ADBE is completing the retracement wave - symetri triangle.
Long upon breakout for next impulsive wave.
Something to watchPosting from my phone so I can't explain how my confirmations form when price is in my POI
$ADBE | [Update 2] Descending Channel: Watch For a BreakoutIn my previous $ADBE analysis I shared a bullish pattern (see below)
Price has since printed a double bottom and looks ready for upside continuation.
See my previous analysis here:
Let me know what you think in the comments and leave a like if you agree with my analysis! 👍🏽
ADBE - Approaching a solid baseADBE is approaching a base ahead of earnings season. This a company than posted +15% sales YoY and +80% EPS growth YoY. Furthermore, ADBE shows strong margins which prove resilience under the current Covid-setting. Operational cashflows have also grown substantially. I believe this can be a good opportunity to enter into a healthy stock with strong upside potential.
$ADBE - coiling, could break outI think this stock has been held down. It may continue to coil in its current down trend before it has a small break out. It could also break down, which is why we wait for the trade to come to us.
Watching for it break the first down trend, and then the second before it revisits that recent high.
Waiting for $478-$480, then $500 and last $515
Would consider a position after $480 with primary hold to $500, then re-enter after holding $500 for a couple of days with a target to $515-$520
ADOBE- DailyElliot wave- Forming ABC correction pattern. Price objective at FE 1.618 (250)
Trade at your own risk with proper money management.
ADBE H&S on weekly after triple divergence on RSI... InterestingThis looks primed for a big move after topping and entering a solid downtrend back in August. Check out the other indicators and note the very thin volume profile for the move down.
Strong weekly candlewatch for a break of last weeks highs, if software is strong this should go, Feb 19 500c
$ADBE short term target 490ishRegardless $ADBE can break the consolidating pattern soon or not the short term momentum is up and 490 should be reached in the coming days. $ADBE is a long-term bullish scenario.
ADBE - Follow up - Getting ready to rallyOn my previous post a few days ago, I highlighted this orange zone from which a bounce is highly likely if the primary count is correct.
Today we are seeing it go up with other mega caps.
Right now it look like it's making a 5 wave advance which would be a great bullish sign but we only have 3 waves up for now.
I already have a position here but I will look to add to it if we get 5 waves up followed by a correction lower which needs to remain above 453.2 !
Adobe shares nearing good buying levelsShares of Adobe (NYSE:ADBE) have pulled back nicely to the support level of a descending triangle. The share is also now within 3% of its 200MA. I will be keeping a close eye on the share in the coming days for a long term buying opportunity. This is a strong technology company with good prospects and prices are now at August 2020 levels.
Im looking at a price target of around $530 (17%) and a stop at the $425 level, given a conservative risk reward ratio of 2.2. Other supporting indicators are the MACD and RSI which both support the position that the stock is reaching oversold territory.
$ADBE currently trading at early July 2020 pricingIt's worth putting on your watch list. If you squint just right, it "maybe" looks like it is trying to enter a downtrend.
I'm not going call it oversold here, but think it is close.
I'll probably open a trade in $ADBE if it hits that $440 area.
I own shares from many years ago. Rarely trade it. It falls in that Software Infrastructure group with MSFT and ORCL among others.
