Adobe's most recent trend suggests a bullish bias. One trading opportunity on Adobe is a Bull Put Spread using a strike $590.00 short put and a strike $580.00 long put offers a potential 47.06% return on risk over the next 8 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $590.00 by expiration. The full premium credit of $3.20 would be kept by the premium seller. The risk of $6.80 would be incurred if the stock dropped below the $580.00 long put strike price.
The 5-day moving average is moving up which suggests that the short-term momentum for Adobe is bullish and the probability of a rise in share price is higher if the stock starts trending.
The 20-day moving average is moving up which suggests that the medium-term momentum for Adobe is bullish.
The RSI indicator is above 80 which suggests that the stock is in overbought territory.
To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here
LATEST NEWS for Adobe
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Shares of Elastic (NYSE: ESTC) soared 23.3% in June, according to data provided by S&P Global Market Intelligence. The software company saw its share price rise due to a strong fourth quarter earnings report and enjoyed the tailwinds of a broad recovery in growth stocks.
Adobe (NASDAQ:ADBE) Could Easily Take On More Debt
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Thu, 01 Jul 2021 10:02:00 +0000
When it comes to tech, Adobe (NASDAQ: ADBE) isn't exactly the most exciting name. The old software firm is exhibiting many characteristics of a value stock: Its core proficiencies (document editing and creative software) are far from a high-growth industry, and revenue is steady and predictable. As boring as Adobe is as a business, though, the returns are far from dull.
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