NEW BULLISH Plays
Adobe Systems - ADBE - close: 37.19 change: +0.02 stop: 36.45
Why We Like It:
ADBE soared to new 52-week highs back in mid December following its earnings report. Since then there has been no follow through. The stock is stuck in a narrow trading range. I suspect that ADBE will breakout higher from this range but I want to see some strength before initiating positions.
I'm suggesting a trigger to buy ADBE at $37.75. If triggered our first target is $39.95. Our second, longer-term target is $42.25. FYI: The P&F chart is bullish with a $52 target.
Entry on December xx at $xx.xx <-- TRIGGER @ 37.75
Change since picked: + 0.00
Earnings Date 03/17/10 (unconfirmed)
Average Daily Volume: 5.3 million
Listed on December 22, 2009