The PEAD projected a bullish outlook for $ADI after a positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 22.22%.
Looks like a cup is forming but price is struggling at resistance of the cup.
Handle low is 159.58.
Targets calculated using the depth of the cup and fib levels.
Depth is 46.53.
No recommendation/Earnings next week.
Also an Inverse H&S at the bottom.
On Friday we saw a large decline after the short lived break of the MA barrier. This was in line with a decreasing momentum. Today we could not manage to regain the lost ground and failed to reach the MA again.
With a further decline of the momentum I suppose that the stock has given up to change the downward trend and surrendered to the bears.
The PEAD projected a Bullish outlook for $ADI after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 60%.
The PEAD projected a Bullish outlook for $ADI after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 25%.
Seasonal ramp up starts around May 18. Semis are showing some signs of life, and now is the time to start preparing. A positive reversal off the D coordinate around 154 on or around early May would be an ideal entry. Long.
The PEAD projected a Bullish outlook for $ADI after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 50%.
NASDAQ:ADI
Possible Scenario: SHORT
Evidence: Price action, Head and shoulder pattern, Bearish Money-Flow
PUT options 01/21/2022, strike 162.5$
$This is my idea and could be wrong 100%
Ok, this is gonna sound weird to anyone who hasn't followed me, but when I intuitively asked how to make a chunk of money towards my $ goal this morning, I literally got "Listen devices". I'm like, Huh? Answer: "Analog". Me remembers a stock Analog Devices, so let's check her out...
It's in the semis space, which I've had many warnings about for a long time now....
Looking to play puts at the $175 strike expiring 10/29. ADI has been rejected by the top trendline of the channel 5 times previously. If ADI breaks above the trendline on increased volume will look to close position and enter calls. I think this gets rejected again though and heads to $173-174 before bouncing.
Puts on ADI
~SL above ATH (180.77)
~PT1 172.50 (could see strong support here)
~PT2 170
~PT3 168
RSI divergence on last 2 ATH, a rejection at the resistance line in an uptrend, gap to fill on down 168-170
We saw a double bottom from this last impulsive move. a pullback to the neckline at PT1 very likely.
NASDAQ:ADI is a company with a pretty strong fundamentals and the technical analysis also shows us a good entry right now.
Good luck,
Your Ganbu
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