ADBE has strong support on a long term trendline (black line on monthly chart) and any test near there would be a lower risk buying opportunity (with stop loss several ticks below this trendline).
The recent pullback brought it back near to the long term trendline support and with the formation of a bullish morning star pattern, one can consider to long now for a short term swing trade. The initial stop loss will be just below the bullish pin bar yesterday. And trailing stops up should trade goes our way.
There is a trendline resistence (blue line on the monthly chart) that should it be able to break above eventually (probably not anytime soon though), wold mean a longer term uptrend is probably underway.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
The recent pullback brought it back near to the long term trendline support and with the formation of a bullish morning star pattern, one can consider to long now for a short term swing trade. The initial stop loss will be just below the bullish pin bar yesterday. And trailing stops up should trade goes our way.
There is a trendline resistence (blue line on the monthly chart) that should it be able to break above eventually (probably not anytime soon though), wold mean a longer term uptrend is probably underway.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!