CHART OF THE WEEK - Adobe Systems (ADBE)

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CHART OF THE WEEK
Adobe Systems	ADBE
See the World thru my eyes' - chart breakdown of the week
Right now Adbe stock looks under valued to fairly priced and would want to be a buyer at these levels ... if the markets turned nasty I'd look to Sell a Cash Secured Put under support for some quick CSP profits because I think Wall Street does *not* buy them back up. More Upside then Downside in my opinion right here at these levels.
RSI	SMA (100)	SMA (200)	KELT MID	OBV TREND
44.31	111.53	107.87	116.89	UP
CLICK IMAGE TO SEE IT LARGER IN ITS OWN BROWSER WINDOW

What's the RSI telling me?
RSI - The RSI is between 40/50 which represents for me a stock that is 'for the most part' fairly valued with some good upside value if the markets are bullish
> ADBE trading anywhere below RSI 50 (for me) is a good time to think about buying shares ... this thing is always at the top of the range.
Support Lines
SMA - When looking for a 'Low Entry' purchase we would love to BUY near the 100 day or 200 day support line. Its not 100% but its a 'Buy Low' situation vs 'Buying High'
> Again, love that its near Support vs being at the top ... I feel if the markets are sideways to higher, Wall Street will see this great company as a bargain. Sweet time for me to think about buying shares
Keltner Channel Breakdown
KC - The stock is trading UNDER the KC MID line which presents more of a 'Low Entry' purchase and now is the time for me to start watching the stock. I like buying for value UNDER the MID line.
> Under the Keltner Channel MID means I'm going to get a low entry purchase ... love buying under the mid v over the mid line.
On Balance Volume or buying momentum ... is it trending Up?
OBV - The 'On Balance Volume' trend line is UP which tells technical traders that the stock has good momentum or in straight talk, people are BUYING IT. This is a 'Green' checkmark for me.
> OBV is trending sideways to higher, momentum is good with ADBE
Further research with - Using charts for technical analysis, Dividend information and Earnings Report Date
RSI, SUPPORT LINES		KELTNER, OBV
View Chart-ADBE		View Chart-ADBE
Definition of the various charting indicators I use
RSI - The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. Source - https://www.investopedia.com/terms/r/rsi.asp
SMA (100/200) - A simple moving average (SMA) is an arithmetic moving average calculated by adding recent closing prices and then dividing that by the number of time periods in the calculation average. ... Short-term averages respond quickly to changes in the price of the underlying, while long-term averages are slow to react. Source - https://www.investopedia.com/terms/s/sma.asp
KC - The Keltner Channel is a moving average band indicator whose upper and lower bands adapt to changes in volatility by using the average true range. The Keltner Channel is used to signal possible price breakouts, show trend, and give overbought and oversold readings. Source - https://www.investopedia.com/terms/k/keltnerchannel.asp
OBV - On-balance volume (OBV) is a technical trading momentum indicator that uses volume flow to predict changes in stock price. ... He believed that when volume increases sharply without a significant change in the stock's price, the price will eventually jump upward or fall downward. Source - https://www.investopedia.com/terms/o/onbalancevolume.asp Disclaimer - Yes - at the time of this posting I do have a position in this equity. By posting this I am by no means recommending this equity and am not front running for its performance. I have risked my own money and am accountable for the trade results. Remember, the content of this site is for informational and educational purposes only. If you invest using information contained here, do so at your own risk. Please read the full disclaimer posted below and visit cptdashboard.com for my privacy policy. Image credits - stockcharts.com | barchart.com | foolcdn.com | yahoo.com | earningswhispers.com | and me :)
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