NEW BULLISH Plays

Adobe Systems Inc. - ADBE - close: 33.94 change: +0.08

Stop Loss: 32.45
Target(s): 37.45
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
Most of the tech sector suffered some profit taking today. Shares of ADBE rallied off its morning lows. After Monday's bullish breakout above the trend of lower highs, this stock looks poised to run. ADBE has been consolidating sideways for four weeks. I am suggesting bullish positions now with a stop loss at $32.45. More conservative traders may want to consider a slightly higher stop loss. Our target is the $37.45 mark. FYI: The Point & Figure chart for ADBE is bullish with a $49.00 target.

Open bullish positions now at current levels.

Suggested Position: Buy ADBE stock @ current levels

- or -

Buy the April $35 calls (ADBE1116D35) current ask $1.34

Annotated chart:

Point & Figure chart:

Entry on February 16 at $xx.xx
Earnings Date 03/22/11 (unconfirmed)
Average Daily Volume: 5.0 million
Listed on February 15th, 2010