NEW BULLISH Plays
Adobe Systems - ADBE - close: 61.34 change: +0.34
Stop Loss: 59.75
Current Gain/Loss: unopened
Entry on February -- at $--.--
Listed on February 06, 2014
Time Frame: exit PRIOR to earnings on March 18th
Average Daily Volume = 3.6 million
New Positions: Yes, see below
Why We Like It:
ADBE is in the technology sector. The company provides software for digital media, digital marketing, and printing and publishing industries.
ADBE shares outperformed the market last year with a +58% gain. It's been a rocky start to 2014 but the upward momentum is still in place. ADBE has been showing relative strength this past week and is challenging resistance at its recent highs near $62.00.
I am suggesting a trigger to open bullish positions at $62.25. If triggered our target is $68.00.
A move over $62.00 should create a new triple-top breakout buy signal on ADBE's point & figure chart.
Trigger @ 62.25
Suggested Position: buy ADBE stock @ (trigger)
- (or for more adventurous traders, try this option) -
buy the MAR $62.50 call (ADBE1422C62.5) current ask $2.06