Trading idea for Adobe Systems Inc. (NASDAQ)
Adobe Systems Inc. (NASDAQ)
#ADBE
The trend is bullish. The stock is trading between the 365 EMA and the 135 EMA. The bearish wave pattern is truncated. The Awesome Oscillator shows bullish divergence, while the Stochastic Oscillator indicates oversold conditions.
Trading Idea:
Buy upon the formation of an upward wave pattern where wave (A) breaks the trendline of the truncated bearish pattern.
Stop Loss: 236.78.
Target levels: 259.00; 276.80.