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xtremerider8

ADBE higher high higher low; Target of Inv H&S id 555

Long
Adobe Inc. (NASDAQ:ADBE)  
xtremerider8 Updated   
NASDAQ:ADBE   Adobe Inc.
Chart Patterns Technical Indicators Fundamental Analysis ADBE adobe techstocks growthstocks S&P 500 (SPX500)
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chartpattern indicator fundamental adbe adobe techstocks growthstocks spx500
ADBE just broke above some resistance lines as shown in the chart. Here I used GANN lines.
It broke above a small resistance zone & the downward channel. If the huge inverse H&S pattern plays out, there
Will be a huge upside with TP at 555.
A fundamental very good company with a lot of moat.
Not trading advice
Comment:
Bad forward guidance from Adobe & FedEx brought this stock down to lower channel after the recent false breakout at upper channel.
Comment:
Still waiting for ADBE to make an island reversal. I think the investors over-reacted. ADBE has just bought into a new related company & will definitely keep expanding. It has a lot of switching moat.
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