ADB trade ideas
$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.
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
$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