Ichimoku/Stock: ADBE, Trade Setup

ADBE looks like it is setting up for a bullish trend. Let’s analyze the charts.
Below is the month chart provided by my friend Jim. Here are his comments: “monthly chart…closed higher than previous high….50% retracement….target is 2x pullback range as measured from 2000-2002…moving higher…target is ~$79….

adme_06_01_07_monthly.JPG
Below is the daily chart. All Ichimoku Indicators look healthy. As a result, we are to choose an entry value. Our trading goal is to use the Ichimoku System to manage the trade until we get to our $79 price target.
adbe_6_1_07__daily2.png
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About the Author Manesh Patel