Bullish Flag $ADBE
Updated
Almost the same analysis as SSOLO but different sector and industry.
Bullish flag on ADBE. Already had the volume spike on daily and also had the WMA crossover on hourly. Short put verticals at strikes 470/460 for 01/08 expiry
Bullish flag on ADBE. Already had the volume spike on daily and also had the WMA crossover on hourly. Short put verticals at strikes 470/460 for 01/08 expiry
Trade active
No active stock trade for this one because of no identifiable stop that fits my risk parameters. Short put vertical update: strikes are actually 480/470 for this one at 01/08 expiry. The daily price swings for this stock is not very wide so there is a high probability that this will expire worthless which would mean max profit at +$177 per contract. At that point, I'll be looking for another opportunity.
Trade closed: target reached
No active stock trade position. But Short Put Vertical expired worthless. +177 per contract Looking at this chart and how price reacted to that trend line even with the civil unrest that went on. I am still bullish ADBE and looking for another opportunity for next week.
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.