Adobe - Triangle Textbook Long Setup!Adobe ( NASDAQ:ADBE ) is breaking out soon:
Click chart above to see the detailed analysis👆🏻
After creating a rally of +2.000% over the past decade, Adobe created its all time high back in the end of 2021. The consolidation ever since has been quite expected, especially looking at market structure. But if Adobe breaks out of the current triangle, we will see new all time highs.
Levels to watch: $440, $560
Keep your long term vision,
Philip (BasicTrading)
Adbelong
Adobe -> The Forgotten StockHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that as we are speaking Adove stock is actually approaching a quite obvious previous weekly structure area which is now turned resistance exactly at the $380 level.
You can also see that overall weekly market structure is about to shift bullish, we are already having bullish weekly moving averages and the overall price behaviour of the past couple of weeks is looking very bullish so I simply do expect a break and retest of the resistance and then more continuation towards the upside.
On the daily timeframe you can see that Adobe stock is not creating bullish market structure yet - we are currently retesting previous daily support which is now turned resistance so I am just waiting for a clear break above the zone followed by a retest and then I do expect more daily continuation towards the upside.
Thank you for watching and I will see you tomorrow!
Adobe Analysis 20.11.2022Hello Traders,
welcome to this free and educational analysis.
I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities.
If you have any questions or suggestions which asset I should analyse tomorrow, please leave a comment below.
I will personally reply to every single comment!
If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button and maybe consider following my channel.
Thank you for watching and I will see you tomorrow!