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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💡 ADI technically based idea, we can see price is on SUPP zone, technically indicators showing we can expect higher bearish...
HELLO TRADER'S THIS IS MY BULLISH TREND ANALYZE . WAIT FOR COME KEY LEVEL AFTER TREND CONTINUE TO UPTREND YOU CAN ENTRY .THIS IS MY OPINION ONLY NO MORE SIGNAL .
Not the best risk / reward ratio on this trade, however, momentum is on our side.
Breakout past a 5-month correction.
- Target Entry: $164.70
- Target Stop Loss: $161.58
- Target Exit: $175.00
- Risk / Reward Ratio: 3.30
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- Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is...
ADI might break out of the resistance, not sure if it will go down before it though.
Not sure how far it will go, my first target is around $200. Input will be appreciated. Next, long term target is around $270.
The PEAD projected a Bullish outlook for $ADI after a Negative over reaction following its earnings release placing the stock in drift C
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The price has completed 5 wave of downward movement and buy volume has increased, theorotically it has shaken off seller and should be going up slowly in near future.
Make sure to apply SL & TP.
ADI worth looking at for a potential reversal with a well shaped Gartley Pattern.
Need the tech sector to hold up as well as the broad market.
Earnings on May 19th.
Need the bottom Oscillator to reverse direction first.
Do your own DD
S.
