Adobe may rise to 651.00 - 677.00

Our pivot point stands at 525.

Our preference

The upside prevails as long as 525 is support.

Alternative scenario

Below 525, expect 481 and 455.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 505.0695 and 487.637).

Supports and resistances

705 **

677 *

651 **

624

567.71 (USD-last)

543

525 **

481 *

455 **

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