June's AI-picked stock updates now live. See what's new in Tech Titans, up 28.5% year to date.Unlock Stocks

Short ADBE For These Simple Reasons

Published 03/30/2017, 03:29 PM
Updated 07/09/2023, 06:32 AM
NDX
-
ADBE
-

Overbought, over-hyped, technical analysis, fundamental analysis. These are all terms that apply to Adobe Systems Incorporated (NASDAQ:ADBE). The stock has soared in recent months, surging form $98 to $130 since December 2017. Just weeks ago, some nutty analyst upgraded the stock. That is right, after this mega run, it was upgraded. How crazy is that? Anyways, the stock opened higher that day, then fell sharply. Over the last few trading days, Adobe Systems has caught a big again on a strong NASDAQ move higher. It is nearing that high. This will be extreme resistance and I plan on taking advantage of it by shorting Adobe. When reality sets back in, Adobe Systems should fall from $130 to as low as $120. I expect this in the next two weeks. This is an easy $10 short trade for aggressive investors.

ADBE Daily Chart

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.