ADBECL trade ideas
ADBE: Divergence spotted; correction ending soon.Adbe shows divergences on many indicators. However, it still has to break about dma20 to be bullish.
Next resistance is 507 & 537.
ADBE has very good fundamentals & a lot of moat. It has fallen severely more than AMZN & MSFT.
Chance to slowly accumulate it cheap.
Not financial advice.
ADOBE (ADBE) looking for solid supportADOBE Inc. (ADBE)
The first support point at $ 500 has been reached, now we remain in the evaluation if a further correction to the price $ 470 will be necessary and the last one at the indicative price of $ 400 in the movile 200 average area (blue line) on the 1 week chart .
If the price were to fall further by drilling down the moving average 200 we could speak of a down trend and no more than a simple retracement.
NB: with the previous TOPs and the RSI inclination we have witnessed a downward divergence on the RSI
Adobe: Selling at 38.2% Fib LevelAdobe - Short Term - We look to Sell at 602.00 (stop at 627.00)
Preferred trade is to sell into rallies. Previous support, now becomes resistance at 605.00. 20 1day EMA is at 602.00. We have a 38.2% Fibonacci pullback level of 599.72 from 699.50 to 538.00. The bias is still for lower levels and we look for any gains to be limited.
Our profit targets will be 538.00 and 515.00
Resistance: 600.00 / 650.00 / 700.00
Support: 550.00 / 525.00 / 500.00
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ADBE looks interesting hereAdobe is down 26% from highs and has just returned to a long-term support zone (ADBE traded in this range for almost a year). Lower indicators suggest this is a good range to consider a long. My only hesitation is an all-but-certain looming Death Cross (where the 50 EMA crosses below the 200 EMA). ADBE hasn't seen a Death Cross on the Daily Chart since July 2011 where it subsequently spent about half a year in a bear market. The Death Cross *can* be avoided, but it would take a substantial bounce. I expect the Death Cross will happen, but I can see at least a moderate bounce as bulls try to make their case. I'm considering a small position here.
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These are my personal views and not financial advice. Please do your own research before investing.
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ADBE RETEST AGAIN AND BOUNCE BACK FROM STRONG SUPPORTAdobe Systems Incorporated (ADBE) is a large diversified software company that operates worldwide. The company deals in digital media and cloud services that allow customers to access the latest versions of its creative products. The stock had been a big winner over the last couple of years, more than doubling since the start of 2020. However, a recent disappointment in earnings erased the last few months of gains. With earnings estimates starting to fall, investors are now concerned that the bull run might be over.
The guidance forced analysts to drop earnings estimates for all time frames. For the next quarter, we have seen just a 1% drop over the last month, falling from $3.37 to $3.34.
But the stock bounce back after the false breakout and step again above $550.00 per share and above 50-Fibonacci retracement level drawn from March 2021. The stock gapped lower after EPS and then took out the 200-day MA and continued to lows not seen since June. If the bears want to push this stock lower, they must take that $550 level out and could push to the $450-500 area.
If the bulls want to gain some traction back, they need to take the $593.00 and 61.8 Fibonacci retracement level and then fill the gap at $600. Our statistic software notes a bullish pattern with a peak return of 4% in 1 month and a probability of 72%. Until then, the sellers will stick around.
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ADBE comeback in the making?Hi everyone, first of all thank you for taking the time to read this, hope you’re having wonderful holidays! I was going through ADBE and to me it seems that the downswing which has lasted all throughout this last month might have come to an end. Currently we seem to be in a support zone and these last days have luckily show some green and climb back might be imminent. Daily RSI also seems to slowly be going up again and we could see a climb back to the previous resistance level. Since I’m quite a fan of EMA crossovers I don’t really like the fact that the 14 EMA is still below the 21 EMA though. A climb back tot 660 level could happen soon though. Keep an eye for this one is my advice. If you made it this far I’d like to sincere thank you for reading this and hope you have a wonderful day. Any feedback (whether positive or negative) or likes are of course really appreciated. Have a good one friends ✌️!
Bearish on Adobe. ADBEWe are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
ADBE Long - Bullish
I decided to enter a long trade on ADBE before the market closed today. ADBE is a fundamentally strong company with a wide moat/competitive advantage. Despite the company beating its most recent Earning estimates, the price of Adobe dropped by -23.50% ($164) from its previous high ($702) over the last 29 days. Due to the strong fundamentals I believe that the current correction was an irrational one and typical of market behaviour in the short term. In the short term the stock markets are not guided through rational price movements, rather its driven by market manipulation, news and events. Due to the above I was satisfied with the current short term discount of ADBE it is currently below its intrinsic value.
In addition to the fundamentals discussed above, the technical analysis shows a potential reversal in the stock price. My conclusion comes from examining the following and as shown on the attached chart image/link:
- Fibonacci Retracement
- Bounce of the 50 SMA on Weekly Candles
- Bounce of the previous resistance/current support level
- Breach of the previous swing low candle and price reversal above it
- Bullish Hammer candle pattern
Due to the above and as per my image attached, I believe ADBE will go long, my profit target exit price on the trade is denoted by the TP levels in the attached image @ approximately: $615, $640 or $660.
I entered a long trade with 100 shares. Hopefully this has been helpful for the trading community.
Thank you,
Bojan Cerberus
