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ADBE trade ideas

Adobe just hit another all time highThis is a weekly, Heikin Ashi chart on ADBE with focus on the past 51 weeks … ADBE continues to experience a bullish run, up from $490 to $640, in past 11 weeks, and up $200 since early March 2021, when it was $440 per share. The chart show ADBE drifting sideways for 40 weeks, prior to the recent 11 week rally. Market cap is above $300 billion (might be 10th largest in NDX). If the NDX is going to move up from low 15100 range, then ADBE is going to be one of the engines that pulls this train. Not sure that it’s giving a clear overbought signal here. Good tech company to own for the long haul.
NASDAQ:ADBELong
by goledger
2
MRI sell on ADBE weeklySentiment: Bullish - sideways This week (week 30) there will be an MRI sell on ADBE indicating the probability of an 1 to 4 week correction. As you can see on the chart last week's candle was a very strong up candle so it has yet to be seen if we can get the correction or not. For me it all depends on the candle we will print this week. Especially having the MAs (20, 50, 100) trending up which is an indication of a strong uptrend. Although the MAs are still indicating a strong uptrend looking at the daily chart we may expect a possibility of supporting the MRI sell we saw on the weekly. If the doji that was printed Friday evolves into an evening star, we may well see a correction in ADBE. This correction ideally would take us back to the 20 MA, from where the uptrend can then continue. As always, this is not trading advice, but only my views on the market. Please do your own research before entering any trade. Happy trading
NASDAQ:ADBE
by CoenKuijpers