Adobe channel BreakoutLooking at 587 to 595 as the target!
My previous channels weren't correct, but seems like we have a proper breakout.
ADBED trade ideas
$ADBE 8 Month Consolidation Break-Out Watch ListWhile the swings have been large (high volatility) $ADBE has been consolidating for just over 8 months. Adobe reported earnings on March 23 and beat expectations. As you know, it's been a tough market. However, if/when the market firms up $ADBE could very well be a runner. I have an alert set on the short downtrend line. If it can break that with some volume, I'll be looking to open a position. ALL TBD. Ideas not investing / trading advice.
From earningswhispers.com:
Adobe Systems Beats
Adobe Systems (ADBE) reported 1st Quarter February 2021 earnings of $3.12 per share on revenue of $3.9 billion. The consensus earnings estimate was $2.79 per share on revenue of $3.8 billion. The Earnings Whisper number was $2.85 per share. Revenue grew 26.3% on a year-over-year basis.
The company said it expects second quarter non-GAAP earnings of approximately $2.81 per share on revenue of approximately $3.72 billion. The current consensus earnings estimate is $2.70 per share on revenue of $3.70 billion for the quarter ending May 31, 2021. The company also said it now expects fiscal 2021 earnings of approximately $11.85 per share on revenue of approximately $15.45 billion. The company's previous guidance was earnings of approximately $11.20 per share on revenue of approximately $15.15 billion and the current consensus earnings estimate is $11.26 per share on revenue of $15.20 billion for the year ending November 30, 2021.
Adobe Systems Inc offers a line of software and services used by creative professionals, marketers, developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling operating systems.
ADBE Long William Alligator : the stock is currently in a bullish position because the candlesticks start being above the Teeth, Lips and Jaw and the lines are “eating with an open mouth” this indicates that the price is increasing.
RSI : the line is under 70, so the stock is not overbought.
Candlestick patterns : there is a bearish engulfing which is a bearish confirmation.
Overall : it can be interesting to take a buy position on this stock because the indicators indicate that the price is increasing. Entry price is higher than the current price for assurance and stop loss is set at -5%.
LONG Breakout ADOBE After Q1 after consolidationWhen discarding covid19 effect, only once since September 2012 has SMA200 been above SMA50.
Right now there is a balancing act going on.
Yet over this week the price has broken out from the previous 3 tops and had strong support in 420-430 after Q1 postings.
Since then there has been a strong RSI14 development and is showing a strong yet not "overbought" tendency.
I have entered long in 515.23 today, as the spike in price over the last 3 days will ensure that SMA50 will stay above SMA200.
ADBE - Started to reverse ... unless 420 is brokenADBE - Made a WXY correction after all it seems... it looks like it's over now so I'm looking to buy.
As price is at the brown VWAP from the high, we could see a bit of pullback but it needs to hold above 437 if it is to continue higher or else we could see price go a bit lower short term.
ADBE Pop UpADBE ran down to the 507 support line, and popped up from there. Looking for a quick retest of the previous 525 high. A crack beneath 502 would trigger an exit.
ADBE - Essential TechNot investment advice. ADBE provides essential tech for all businesses. Strong track record of growth, and good overall company.
Its my view that large cap growth (us tech) can continue to climb higher, generally. However, there will be a focus for investors on high quality earnings which ADBE provides.
This is a longer term trade where you should feel comfortable averaging down over time if there is a less than desirable entry.
Adobe: Weekly Bull BreakAs I already analyzed in the video on Monday (see attached), Adobe just broke the prolonged Weekly Bull Flag since basically August 2020. We broke & closed above the resistance yesterday on the Daily. If the bulls don't fake out & see follow through this week, Adobe can now easily go towards $600 in the coming weeks & months.
Some fundamentals : Adobe has seen quite some upside since they changed from the one-off to the monthly subscription models, since a lot more professionals could now afford it. This obviously got a lot more usage throughout the Covid period, as people were working from the home office.
Given that it still underperformed the S&P500 and went on a sideways consolidation after it rose 90% until the summer, which we have to recognize.
I'm a Photoshop & Premiere Pro user myself, and can see the value of the neat integration in the cloud.
After all: If you're not gonna own the companies you're using yourself, then what? ;)
In this case the fundamentals are now getting confirmed by the technicals.
Happy trading & investing!
ADOBE possible FLAG formation !The technology sector is preparing to make a new high.
Many stocks are after a consolidation period since September.
We can clearly see that ADBE testing its highest high , so watch it.
As always, diversify.
If the flag pattern will follow through a big move is about to happen, one that worth risking on a trade.
Previous pulse waves were relatively smooth.
Side note: if you are familiar with Wyckoff theory, SPRING just happened in March... which is also a possible positive sign for a shoot up :)
ADBE Bullish Flag continuation pattern ADBE is flagging after its huge run off lows last year. All moving averages are curling up and If we can clear this 505 level of resistance then a new ATH should follow.
I like the companyComing off a run with a reversal pin bar to touch that support and confirm the break, consolidate and then continue
Looks good at 495
ADBE near the resistance level of the Wyckoff PatternFor new entries: $ADBE (Adobe Systems Inc) is near the resistance level of the Wyckoff pattern. Look for a breakout with volume to confirm the breakout.
For ones holding a position and want to secure the profit of last rally, you can close the position and reopen with the pattern confirmation.
Massive Structure on ADBEToday we will take a look at the current situation on ADBE.
Key concepts:
a) Flag Pattern: This type of formation is considered a continuation pattern, meaning that after the breakout, we tend to observe a movement in the same direction as the previous impulse
b)Ascending Structure: using two trendlines, we can understand the upper and lower bands of any trend; when we have a breakout on any of the directions, we can use that to forecast possible movements on the breakout direction
c)Fibo Extensions: We use them to forecast possible targets on a new impulse
Final Conclusion: We have an activation level on the green line and an invalidation level on the red line; the final target is the 2nd fibo extension, and we will use the first one as a risk-free level.
Thanks for reading!
Weekly flagReally nice chart here, today it made it to the start of gap fill and rejected on first attempt. Would like to see it come back down a bit and flag on daily from here before entering calls. If this breaks it should be a huge move. Has been consolidating since Aug 2020
ADBE: Another System-Based ShortI've developed a bearish algorithm/screener that screens for stocks with identified selling pressure / trend followed by a dead cat bounce that is likely to fail - which we will attempt to short. I'm trying to combine trend following and VFI trading principles for the coming bear market.
Components:
1. 200 EMA: below current market price (this is so we don't get stuck in short squeezes and such)
2. 50 day moving average above current market price (we want past clearly identified weakness over a sufficiently long period)
3. 10 day moving average below current price (we want a stock that has attempted to rally from the lows)
4. CMF<-0.1 (we want to screen out bottoming patterns such as Inverse Head and Shoulders whenever we can)
5. Moving Averages Ratings: Buy, Neutral, Sell - we don't anything with strong MA momentum indicators, and we don't want to be short squeezed.
6. Market Cap, Price, volume requirements
Look for the uptrend to develop with ADBEADBE is making an attempt to re-establish it's long-term uptrend. Check the ADX/DMI for a bullish crossover , confirmed by a choppiness indicator to transition from "rangebound" to "trending". 1st price target is around the 600 level. If this target is achieved, look for further upside to 700.
If the uptrend fails to materialize, have a stop-loss at 445 level. Stay in the trade as long as the price remains above the cloud.
ADBE over 475.00Cloud/SaaS were some of the growth leaders pre and post-COVID but have significantly cooled off since the peak in August/September and did not rally to the degree other names did in November - February. ADBE is forming a flag on the weekly viewing shown here on the daily, entry provided at 475.00 over VPOC, price action resistance which also serves as a "round number" psych level.
ADBE regaining its rightful territory ADBE recovering well, back in it's rightful territory after great earnings, breezing through what could have been former-support-as-resistance. Regaining both its 50 and 200 day sma is great.
$ADBE nice bullish setup Even in the shaken market of last week its behaviour was really strong. It is leaving a really bullish setup. I would wait to see how the market is behaving next week before go in
TP1: 636
TP2: 711
$ADBE with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $ADBE after a Positive over reaction following its earnings release placing the stock in drift B
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