After 2.5 months of consolidation in a tight range, finally crossed/closed above 350.
Strategy: Wait & Watch till the Quarterly result this month. Best case: Break out above 440 can take the price to 530-540 Worst case: Break down below 380 can 300-310 Or may it may remain in this tight range of 380-440
Adobe has been consolidating from 450-500 range since August-2020. In a way it's been generating a flag formation since the lows of March-2020. It's currently at a very crucial level of 450 and it's important that the stock doesn't fall below 450. On the positive side, if the price breakout can happen above 514 the immediate levels would be 600 & 740. These can...
Adobe Spent over 7 months between ~450-500. Stock price & moving averages are at a very crucial level and near the lower edge of the consolidation window. The possibilities are: 1. Adobe doesn't come back to 475+ levels by end of week (5-mar). Shows some weakness for coming weeks. 2. Adobe closes below 450, then the fall could be till 380-390. This aligns well...
The breakdown on Weekly charts is evident. I'm looking at fall down to 24000-24500.
If Adobe goes above 470 with a spike (in a day or within a week) Then it has a high probability to increase by 25-30% in 2-3 months. i.e. target of 600+ If Adobe goes below 420 then the fall can be down to 370-380. I'm bullish on this share because it's in in uptrend on the monthly charts.
The breakout can be seen on both Daily & Weekly charts.
Pharma should double from here in next three years... Dream run!!
Green Line & Red Line are cloth of the flag. Height of Pole = ~4700 Potential target = 5450 & 5300 (Yeah, looks unrealistic but... that's what the technical charts say) Based on the duration of flag formation... We should reach this by mid June.