Adobe in TroubleDescending triangle setup with RSI that is compressing for a big move. Could print as a reversal pattern, but given overall market weakness, it is likely to descend lower.
1ADBE trade ideas
Short idea - AdobeBeing one of the best growth stocks, NASDAQ:ADBE lately, however, is underperforming indexes. Yesterday's breakdown on relatively large volume suggests that another leg lower may have started.
Based on triangle breakdown, wave symmetry and previous support levels, target on this short should be @ ~256-258. Stop loss @ 290.
Adobe updateAs part of NASDAQ Adobe has market cap of $141.73B. Price ranging on the price target of majority of banks and investment funds. However, Bank of America and Morgan Stanley price it above $300. Company showed positive earnings over the 1-year period, next earnings date is September 17.
Nice uptrend line respected multiple times. Now ranging around it and the 200SMA on 4 hour. A support zone around $277 and small downtrend line from August 8 now show price being wedged in, gearing up for the break, but failing ti make new highs, showing more selling pressure at the moment or investors taking profit. Upside break looks more attractive or wait for test of support to buy with a great risk-reward.
Good Luck!
Shall we get opportunity buy ADOBE share at ~70 USD again?Hi Friends,
I could be wrong here. As per weekly charts, ADOBE share is trading inside parabolic curve and it is near to break down. If we get a breakdown within 2 or 3 weeks, then I am assuming that ADOBE will be corrected ~80%, close to 70 USD / share within ~18 months.
Let's see.
Regards,
Vikram Divekar
Daily ADBE stock price trend forecast analysis11-JUL
Price trend forecast timing analysis based on pretiming algorithm of Supply-Demand(S&D) strength.
Investing position: In Rising section of high profit & low risk
S&D strength Trend: About to begin an adjustment trend as a upward trend gradually gives way to a slowdown in rises and falling fluctuations
Today's S&D strength Flow: Supply-Demand(S&D) strength flow appropriate to the current trend.
READ MORE: www.pretiming.com
Forecast D+1 Candlestick Color : RED Candlestick
%D+1 Range forecast: 0.1% (HIGH) ~ -1.2% (LOW), -0.6% (CLOSE)
%AVG in case of rising: 1.5% (HIGH) ~ -0.7% (LOW), 1.0% (CLOSE)
%AVG in case of falling: 0.6% (HIGH) ~ -1.6% (LOW), -0.8% (CLOSE)
Adobe touching the top of the channel. I'm initiating PutSpreadADBE
Touching the top of my channel, on low volume. Move today isn't valid IMO. Opened short term putspread.
ADBE Gaps Over Short-Term ResistanceADBE gapped over a short-term high resistance area and moved up on a velocity run. This is a new all-time high for ADBE.
Daily ADBE forecast timing analysis by Supply-Demand strength19-Jun
Stock investing strategies NASDAQ:ADBE
Investing position about Supply-Demand(S&D) strength: In Falling section of high risk & low profit
Supply-Demand(S&D) strength Trend Analysis: In the midst of a rebounding trend of upward direction box pattern stock price flow marked by limited falls and upward fluctuations.
Today's S&D strength Flow: Supply-Demand strength has changed to a strengthening buying flow when stock market opening.
View a Chart with Supply-Demand(S&D) strength forecast: www.pretiming.com
D+1 Candlestick Color forecast: RED Candlestick
%D+1 Range forecast: 1.3% (HIGH) ~ -0.1% (LOW), 0.5% (CLOSE)
%AVG in case of rising: 1.9% (HIGH) ~ -0.3% (LOW), 1.3% (CLOSE)
%AVG in case of falling: 0.5% (HIGH) ~ -1.7% (LOW), -1.1% (CLOSE)
Stock Price Forecast Timing Criteria: Stock price forecast timing is analyzed based on pretiming algorithm of Supply-Demand(S&D) strength.
$ADBE ER gap into daily resistance Watch 291 levelSome of these ER plays have be putting in big open vert bars through chart highs Watch 291
ADBE Day Trade Potential Go For It !ADBE is looking strong today ! The earnings came out better than expected so we have a good catalyst. Looking at the chart it needs to get above 291.71 if it breaks that it will be clearing the all time highs and that's bullish (going up). Currently the stock has surged after hours on Tuesday. I would go long on it once it breaks the all time highs and start taking profits near 295 as there is an ascending resistance trendline that I have drawn. The market ($SPY) needs to be going up for this trade to work. I will be using my 1 min chart for entry, and 5 min chart for managing the trade. I would not be interested in shorting ADBE only going Long on it.
ADOBE near buy pointAdobe yesterday reported financial results for its second quarter fiscal year 2019 ended May 31, 2019. The after hours price is around 288.50 (+4.23%). Watch 291.81 as a buy entry if the stock breaks out with high volume.
