0R2Y trade ideas
Adobe longHere is an easy ta for Adobe long.
ADBE is in a clear healthy up-trend. Stock is moving before ER on 11 th June above 52-Week high. Next support is around 384 mark (last ATH). MACD shows no signal for down-trend.
For those, who love to read candle sticks there is Bullish Engulfing Pattern follows by hammer compared with higher volume.
So, I would say you have two options:
1. Wait for the dip around 384 support
2. Buy now and buy again on next dip.
Well, Fed is talking today that could have an impact on market. Take a look on this and go long ADBE on dip.
Good luck for your trading
Any comments are welcome :)
ADBEPrice prediction less than $360 in 6 months.
Current PE of 60 is more than MSFT's 35 or SAP's 30
Adobe is leader in creative professional market but revenues are decreasing from 2018. Even in past adobe had grown because of few good acquisitions like Omniture etc. PDF's Acrobat DC is still leader but....
Footnote: My price prediction is prediction. Don't check ADBE footnotes as they play with numbers openly.
$ADBE Adobe to hot into earnings
Very tight range has developed within the rising wedge which has also hit major trend-line resistance.
Having rallied over 60% from the lows its time to look for pullbacks rather than jumping in now.
The breakout level at $380 may be a good entry point
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