Adobeinc
Adobe (ADBE) WeeklyComparing two points that are correlated from there points to the Fibonacci circle
As they are in similar places, price tends to repeat itself, and it can be seen on the chart
I am suggesting continuation along this larger white trendline for price
ADOBE has confirmed Downtrend. Adobe Inc. has a confirmed downtrend
Adobe has broken down the trendline as well as the RSI trend line. this is a signal for a downtrend. The Renko chart and Ichimoku analysis confirmed the downtrend.
the first target is 380 &
Adobe: Weekly Bull BreakAs I already analyzed in the video on Monday (see attached), Adobe just broke the prolonged Weekly Bull Flag since basically August 2020. We broke & closed above the resistance yesterday on the Daily. If the bulls don't fake out & see follow through this week, Adobe can now easily go towards $600 in the coming weeks & months.
Some fundamentals : Adobe has seen quite some upside since they changed from the one-off to the monthly subscription models, since a lot more professionals could now afford it. This obviously got a lot more usage throughout the Covid period, as people were working from the home office.
Given that it still underperformed the S&P500 and went on a sideways consolidation after it rose 90% until the summer, which we have to recognize.
I'm a Photoshop & Premiere Pro user myself, and can see the value of the neat integration in the cloud.
After all: If you're not gonna own the companies you're using yourself, then what? ;)
In this case the fundamentals are now getting confirmed by the technicals.
Happy trading & investing!
ADBE entry LEVELS LONGADBE is waiting for the next movement. Let's see if we hold UPTREND. You can BUY with a breakthrough, but it is pretty risky. Better to wait and start BUYing around $452. If we go lower next SUPPORT is $438.
LEVELS LONG:
$452
$438
$425 - STRONG BUY
$417 - STRONG BUY
ADBE short with LONG entry levelsADBE just broke the support around $463, and we are heading to another support around $438. This could be a good entry-level for long positions. The area from $417 to $438 is a big support zone.
ADOBE INC is a strong company with a strong base of customers. The perfect subscription model with a monthly fee and irreplaceable software that is used worldwide guarantees stable profits.
Entry levels LONG positions:
$438
$423
$417 - STRONG BUY
ADOBE INC. LONG📈 NASDAQ:ADBE LONG D1
🛒BUY above = 503
🎯Target1 = 518.40
🎯Target2 = 528
🛑Stop loss or cancel trade = 477.80
🙈Recommended risk = (2%-3%)
High Expectation for the #AdobeHigh Expectation for the Adobe if the price break the 348.2 will up to 355.19
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 Correction BouncesCorporate buybacks struggle against heavier rotation by Dark Pools. ADBE steps downward to bounce at support levels.
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.
Adobe: One last round of volatility before the new bull run.Adobe Inc is pulling back inside a 1D Channel Down (MACD = -0.030, RSI = 51.065, Highs/Lows = 0.0000) after the late April High. Having made a Golden Cross formation in mid March, is waves a long term buy signal. But on the shorter term a tough phase is expected where the 1D MA200 should be tested again, most likely providing the necessary support for the new long term bull cycle.
At least this is what happened on the last occurrence of the Golden Cross in in 2012. Golden Cross, then a market Top, same break below the MA50 inside a Channel Down and multiple tests of the MA200 which eventually held. Our long term TP for Adobe is 310.
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