Adobe may rise to 642.00 - 669.00

Our pivot point stands at 518.

Our preference

As long as 518 is support look for 642.

Alternative scenario

The downside breakout of 518 would call for 474 and 447.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is above its 20 and 50 day moving average (respectively at 543.115 and 500.9836).

Supports and resistances

696 **

669 *

642 **

616

559.05 (USD-last)

535

518 **

474 *

447 **

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