ADBE Trading in Clear Bullish Pattern

On Friday, we looked at a Daily Price Chart of Cirrus Logic, Inc. and noted that the stock had been making a series of 52-Week Highs since August.

Today’s Chart of the Day is for Adobe Systems, Inc. (NYSE: ADBE). 

Adobe Inc. operates as a diversified software company worldwide. Its flagship product is Creative Cloud, a subscription service that allows customers to download and access the latest versions of its creative products.

The Daily Price Chart below shows that ADBE has traded in a clear bullish pattern of higher highs and higher lows since late October.

Track the Price Chart from lower left to the upper right…

ADBE

This bullish trading pattern points to a further advance.

You see, typically stocks that make a series of two or more higher highs and higher lows reliably continue on in an upward trend.

But it’s important to note that strong stock rallies have pullbacks along the way.

These pullbacks present a buying opportunity for us.

Purchasing ADBE after a 3 to 5% price pullback has provided a good entry point for the stock this year, and has produced a healthy return.

Maximizing Our Profit Potential

Additionally, we’d like to talk about how a previous Chart of the Day stock has done…

On December 5th, we highlighted Bristol Myers Squibb Co. (NYSE: BMY), noting that BMY had been on a bullish run after making a series of 52-Week Highs.

If you happened to have purchased BMY shares on that day, you’d already be up 9.86%.

But… if you had purchased the right option contract, you would be up 124.30% in just over five weeks’ time!

In fact, BMY is an open position in our premium trading service, PowerTrend Options. We’ve been profiting from BMY’s uptrend for several months now, and had you gotten in at the beginning of the trend, you’d be enjoying its rise as well!

That’s the power of options.

Best Regards,

Chuck Hughes
Editor, Chart Of The Day

Chuck Hughes

Written By Chuck Hughes

Before Chuck Hughes won 10 Trading Championships, he was an accomplished Air Force pilot. In fact, he credits his success as a stock and options trader to his disciplined upbringing and career. When he was deciding between a career in the Navy and a career in the Air Force, the Navy told him he’d only have a 33% chance of flying jets. The Air Force gave him 100%. He liked those odds better. 35 years ago, Chuck had a wife, a young daughter, a son on the way, and a huge mortgage to afford. He didn’t want to give up on his lifelong dream and stop flying for a major commercial airline. He knew he needed to supplement his income during the 15 days a month he wasn’t flying. So he used his experience in discipline and math, and his understanding of finance and the stock markets (which he’d always been interested in,) and opened a $4,600 trading account. He made over $460,000 in profits his first two years of trading, and he hasn’t looked back since. When he was diagnosed with Meniere’s disease 15 years later, which commonly leads to vertigo…He knew his career as a pilot wouldn’t last much longer with those odds. But he didn’t have to scurry to find another gig, or panic about how his family would eat… He’d spent the last 15 years perfecting his system and raking in cash. As an options trader, Chuck does not let his emotions get in the way of his trading strategy. He adheres to disciplined and methodical options and stock trades. Because he respects the options game so highly, and understands the true freedom that financial solvency can bring, Chuck was able to design and refine his system and win those 10 Trading Championships. Put simply, Chuck Hughes’ trading strategies work, and in all types of market conditions. They’ve worked throughout the bull, bear, and flat markets America has seen in the last 30 years. Chuck Hughes has spent that time building a reputation as one of the most trustworthy options traders in the industry. His publishing group Legacy Publishing LLC was one of the few trading groups on the planet to have correctly predicted and profited from the 2008 financial crash .As a published author 16 times over, a 10-time Trading Championship winner, and an options-trading teacher for 25 years, he’s learned to trade and teach without an ego.