Adobe may rise to 632.00 - 656.00

Our pivot point is at 518.

Our preference

As long as 518 is support look for 632.

Alternative scenario

Below 518, expect 479 and 456.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is below its 20 day moving average (555.875) but above its 50 day moving average (508.6874).

Supports and resistances

679 **

656 *

632 **

608

551 (USD-last)

534

518 **

479 *

456 **

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