sandeep6883

sandeep6883

Major Resistance price at about ~300 Spent about a year in 2020 to 2021 crossing this level. When this level was broken, the price cracked down to 90. A good level for partial profit booking.

sandeep6883 Updated 

Positive Signs: Bounced back from the Upward trendline running from October to May. Bounced back from the upper part of the flag pattern formed in the last quarter of 2022 Spent just a week below 50DMA & 200DMA and bounced back Negative Signs: Volumes are average Resistance around 385-400 price Recommendation: Sell near 385-400 resistance zone OR...

sandeep6883

There are three +ve indicators (suggesting buy) 1. Price moved above 50DMA with good volume on 16th March 2. Price moved above 200DMA with good volume on 17th March. 3. Golden-Crossover (50DMA above 200DMA) on 21st March. However, the volumes are still lower than average and the price is stuck between 385-400 range, suggesting profit booking in this...

sandeep6883

Adobe is trading near the resistance zone, breakout should take it to 440 and a reversal should take it down to 350.

sandeep6883

After 2.5 months of consolidation in a tight range, finally crossed/closed above 350.

sandeep6883

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

sandeep6883 Updated 

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...

sandeep6883

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...

sandeep6883

The breakdown on Weekly charts is evident. I'm looking at fall down to 24000-24500.

sandeep6883

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.

sandeep6883

The breakout can be seen on both Daily & Weekly charts.

sandeep6883

Pharma should double from here in next three years... Dream run!!

sandeep6883 Updated 

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.