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Adobelong

Adobe: Weekly Bull BreakAs I already analyzed in the video on Monday (see attached), Adobe just broke the prolonged Weekly Bull Flag since basically August 2020. We broke & closed above the resistance yesterday on the Daily. If the bulls don't fake out & see follow through this week, Adobe can now easily go towards $600 in the coming weeks & months. Some fundamentals : Adobe has seen quite some upside since they changed from the one-off to the monthly subscription models, since a lot more professionals could now afford it. This obviously got a lot more usage throughout the Covid period, as people were working from the home office. Given that it still underperformed the S&P500 and went on a sideways consolidation after it rose 90% until the summer, which we have to recognize. I'm a Photoshop & Premiere Pro user myself, and can see the value of the neat integration in the cloud. After all: If you're not gonna own the companies you're using yourself, then what? ;) In this case the fundamentals are now getting confirmed by the technicals. Happy trading & investing!
NASDAQ:ADBELong
by Edgy_