Adobe stock: buy or sell
Jul 29th, 2021
Adobe stock brief
- After making all-time highs last Friday, Adobe closed on Wednesday at $620.92 barely moving a 0.43%
- Adobe Inc. operates as a diversified software company worldwide.
Should I buy Adobe stock?
Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $ADBE stock a buy?
Currently, Adobe stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean we expect a selloff for $ADBE in coming sessions, or that it may not rise higher. Simply, it doesn't match our recommended trading systems
Should I sell Adobe stock?
Knowing when to sell a stock is even harder than knowing when to buy it. Just as when we have to buy shares, determining when is appropiate to sell is not a whimsical decision, and we must follow our own trading strategy. When selling, as well as buying, detailed strategies are very easy to use but are only applicable for selling shares in your porfolio, not for shorting Adobe stock
A guiding principle is that you must never mantain a trade that results in higher than expected losses by the time of purchase. When to sell your stock must always be dictated by the stop-loss (automatic or manual)
Is it time to sell Adobe stock?
In the current situation of Adobe there is not any eligible sell setup, so Adobe stock holders with operations in green can keep their positions
In the last 30 days we couldn't find any rating for Adobe
Adobe stock analysis
Since last March, Adobe has been printing an uptrend that by now marked an amazing 47.56%. Rising tops and bottoms can be seen easily on a chart and how price action offered very few buy points on the breakouts. Latest low was last May, when price bounced at $468.50. In mid-June, Adobe broke out above its last top ($525.44) offering a good buying opportunity that resulted in a 18.17% profit
$ADBE at new Highs
Adobe did it again, and marked all-time highs (ATH) last Friday at $631.64. Stock cracked new all-time highs 3 times in the last 10 sessions
Supports and resistances
Price is at all-time highs and there are not upper resistances.
The current support levels are:
Since the price surpassed the upper band last Friday, the price has been corrected downwards by 1.70%. The price is trading very close to the upper Bollinger band, poiting some level of overbought in recent sessions. This is not a sell signal, as price can move in these levels for many days and weeks
Relative strength index
Broke through the 70 level Wednesday, with a reading of 71.21. Breaking through above the overvalued zone is not a bearish signal, as shares can rally during several weeks being above 70
Adobe stock price history
Adobe went public on Aug 13th, 1986 priced at $0.00 per share1. Since then, ADBE stock has risen by -, with an average of 0.00% per year. An investment of thousand dollars on Aug 1986 would worth $inf nowadays.
1: Adjusted price after possible price splits or reverse-splits
Price target for Adobe stock
Nobody knows how much a share will be priced tomorrow. Banks and financial organisations issue their analysis predicting how a particular stock will performance in the future.
The following table shows the price target released by financial institutions in the last 30 days. Again, these targets are not direct recommendations for small investors and should not be followed blindly.
We don't have any target price published in the last month for Adobe.
Earnings and financials
Adobe ($ADBE) hosted the earnings event and presented the report in mid-June. Adobe topped consensus earnings estimates and presented of $3.03, that is a 7.83% increase compared to the previous estimates of $2.81. Nevertheless, reported sales of $3.8 billion were in line with Wall St. predictions.Compared to the same quarter one year ago, EPS was $2.45, so reported EPS is a improvement of 23.67%. Looking at turnover, figures exploded a 22.60% compared to $31.3B same quarter last year.
Adobe ($ADBE) releases earnings report next September. Estimated for this quarter is $3.01, compared to $3.03 that was reported for Q2.
Important:The opinions written in this article are personal and not recommendations for you to buy or sell stocks. The author of this article does not know the individual conditions of the reader, his or her own financial statements or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Viewpoints are expressed for education motives only
|Wednesday, July 28th, 2021|
|Day range||$617.57 - $626|
|Average true range||$11.54|
|50d mov avg||$558.94|
|100d mov avg||$520.41|
|200d mov avg||$499.52|
|Earnings date||September 21st, 2021|