Adobe may rise to 514.00 - 523.00

Our pivot point stands at 469.

Our preference

Short term rebound towards 514.

Alternative scenario

The downside breakout of 469 would call for 454 and 445.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the stock is trading above its 20 day moving average (479.2785) but under its 50 day moving average (495.08).

Supports and resistances

532 **

523 *

514 **

504

483.43 (USD-last)

475

469 **

454 *

445 **

Number of asterisks represents the strength of support and resistance levels.