ADBE has been whipsawing bulls and bears since its last earnings report. Last Friday it made a decision and broke out - bulls have it from here near term.
Initial Target = 640 by 1/26/2024
Goal Target = 670 by 1/31/2024
After hitting targets it will likely get a pullback to 630-640 in early Feb before continuing higher to test ATH 700 by March 2024.
I'll send an update of which calls I'm entering on Monday 1/22.
Initial Target = 640 by 1/26/2024
Goal Target = 670 by 1/31/2024
After hitting targets it will likely get a pullback to 630-640 in early Feb before continuing higher to test ATH 700 by March 2024.
I'll send an update of which calls I'm entering on Monday 1/22.
Comment:
Adding calls here (averaging down). 594 was the breakout level (dotted blue horizontal line). The pullback today was a test of that level for support. Its strong here and ready to make a higher high in the coming week.
On the chart there are 3 parallel dashed blue and teal lines - these are the buying pressure/demand. Expect price to trade up the left dashed blue and teal toward targets.
On the chart there are 3 parallel dashed blue and teal lines - these are the buying pressure/demand. Expect price to trade up the left dashed blue and teal toward targets.
Comment:
Big Green days coming today and tomorrow (1/25, 1/26). Another aspect I forgot to mention that offers confluence to my target of 640 is a massive gap to fill to the upside from back in Dec 2023 (gap from 636-650.98).
Comment:
Target for Thurs 1/25 = 625 (stop loss 594)
Target for Fri 1/26 = 640 (stop loss 596)
Target for Fri 1/26 = 640 (stop loss 596)
Comment:
Took profits on the Feb 2 655 calls: sold for 3.80 (+138% return).
Still holding the Feb 9 640 calls until targets hit.
Still holding the Feb 9 640 calls until targets hit.
Comment:
Took some profits on the Feb 9 calls for 12.10 (+147% gain).
Still keeping majority of position open until targets hit.
Still keeping majority of position open until targets hit.
Comment:
Buy/add the dip
Comment:
brr
Comment:
Updated Goal Target = 678 by 2/23/2024
Comment:
Responded in the comments recently that the dotted blue (up-sloping) line is my trailing stop loss. So price would need to see a sustained break below to get stopped out. We closed just above that line 2/6, so I am still bullish here. Time to targets will be delayed - need until 2/23 to hit 670s.
** ADBE Feb 2 655.00 C for 1.50 (cost basis) ** - these will print, but its more risky than the other calls. Looking to sell for 10.00-15.00 by 2/1 when we hit goal target of 670 .
** ADBE Feb 9 640.00 C for 4.90 **- this is a less risky play but the premiums are higher, naturally. Looking to sell half for 30.00 when price hits goal target of 670, keeping the other half for if we test ATH at 700 (these will go for 60.00 )