ADBE facing resistance at 336.25 may see some pullbackADBE facing resistance at 336.25 may see some pullback. First downward target 332, if does not hold 332, could get ugly in the rage of 320-313
1ADBE trade ideas
Adobe Deathcross DailyThere seems to be some discrepency regarding the nature of the rising broadening wedge, with some thinking its bullish while others bearish. I believe it is bearish, following Bulkowski's chart pattern rules. Short should be placed just under or above 200DMA if deathcross follows through. For a rising broadening wedge to be valid three or more touches must be evident at resistance and support lines.
ADBE - tested trendline and reboundingS&P 500 is still staying put above 2300 critical support. I know it' s crazy scary now and volatility is just so great but I am willing to start nibbling when I see this. Stop loss below today's low by a few ticks and looking to protect profits with trailing stops . Trade carefully!
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
THE WEEK AHEAD: ADBE, ORCL EARNINGS; GDX/GDXJ, USO/XOP/XLE, EWZEARNINGS:
ADBE (89/65) and ORCL (77/60) both announce earnings on Thursday after market close and have the metrics I look for in earnings-related volatility contraction plays (>70% rank; >50% 30-day implied).
Pictured here: a short strangle paying 11.65 at the mid price camped out around the 16 delta. Its defined risk counterpart: the 265/275/395/405 ten-wide iron condor pays 2.46. Off hours markets are showing wide, so look to price setups out during the regular session.
The delta neutral ORCL April 17th 40/55 short strangle pays 1.45.
EXCHANGE-TRADED FUNDS WITH EXPIRY IN WHICH THE AT-THE-MONEY SHORT STRADDLE PAYS >10% OF THE STOCK PRICE:
GDX (99/51), April
USO (97/66), April
GDXJ (96/58), April
XLE (97/75), April
EWZ (92/52), April
XOP (92/51), April
TLT (91/41), May
EWW (91/48), April
XLU (90/43), June
SMH (84/56), April
FXI (65/33), June
BROAD MARKET WITH EXPIRY IN WHICH THE AT-THE-MONEY SHORT STRADDLE PAYS >10% OF THE STOCK PRICE:
EFA (87/37), June
QQQ (83/43), April
IWM (82/46), May
SPY (78/41), May
EEM (70/37), June
FUTURES:
/CL (97/65)
/GC (84/25)
/SI (70/30)
/NG (65/48)
/ZS (30/19)
/ZC (21/22)
/ZW (13/27)
VIX/VIX DERIVATIVES:
VIX finished the week at 41.94, so it has been a rough ride for shorters who were in plays before this volatility expansion (points to self). The basic watch word is "patience"; volatility will abate at some point in time ... .
Short ADBE3M and MN is overextended, WK is correcting with a strong SZ created. Similarly D1 has a strong SZ created within the WK zone.
3M shooting star bearish confluence.
Bounce after entry signalUsage of SMA 50 and 200 to recognize best timing and optimal risk/reward ratio
ADBE My overbought screen keeps pulling up ADBE, today is the day I am taking an attempt at the short. Either it pushes harder into earnings in March, but this chart is saying it will take a break back into the $350's over the next week.
Buy medium term with ADBEMy strategy is to combine several techniques at once:
+ Price channel and trend line: help me identify the direction of the price,
+ Supply - demand: help me identify the reversal position,
+ Elliott wave: help me determine the cycle of price,
+ Candlestick pattern and price action: Help me correct the position to the order.
...
Wait for a retest and long-term purchase of ADBE (weekly candle)My strategy is to combine several techniques at once:
+ Price channel and trend line: help me identify the direction of the price,
+ Supply - demand: help me identify the reversal position,
+ Elliott wave: help me determine the cycle of price,
+ Candlestick pattern and price action: Help me correct the position to the order.
...
Adobe - AB=CD pattern - short - 52 week high - OBAdobe looks in great shape to short on the 4 hour (or daily chart) - just wait for a solid and simple entry reason as all the confirmations (so far) for a good short are apparent.
As always I wish you success, happiness & good luck!
Comments always welcome.
$ADBE bullish trade setup executed for 100% gains!ADBE has been on a great run since December but it looks like it is on the last leg of this run as it overbought on multiple indicators whilst near resistance. We secured 100% gains by playing some call options in this run. WIll be watching what it does next week.
