Earning coming Dec 12th, 2019
Adobe Systems Incorporated lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $313.07 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 11.14% during the next 3 months and, with 90% probability hold a price between $307.89 and $347.95 at the end of this period.
Adobe Systems Incorporated holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $305.29 and $289.24. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, December 04, 2019, which indicates further gains until a new top pivot has been found.
My Opinion
* I would buy on the day of earnings, which will increase the chance of making a profit.
* Sell once the market opens with a stop loss 313 and take profit on Wednesday.
Adobe Systems Incorporated lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $313.07 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 11.14% during the next 3 months and, with 90% probability hold a price between $307.89 and $347.95 at the end of this period.
Adobe Systems Incorporated holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $305.29 and $289.24. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, December 04, 2019, which indicates further gains until a new top pivot has been found.
My Opinion
* I would buy on the day of earnings, which will increase the chance of making a profit.
* Sell once the market opens with a stop loss 313 and take profit on Wednesday.
Note
Adobe is buying the Oculus Medium VR sculpting appNote
ADBE beats on EPS and Revenue consensus estimates. :-)WE ARE FLYING
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.