Adobe may rise to 599.00 - 611.00

525 is our pivot point.

Our preference

As long as 525 is support look for 599.

Alternative scenario

The downside breakout of 525 would call for 505 and 493.

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 trading under its 20 day moving average (554.204) but above its 50 day moving average (519.3164).

Supports and resistances

623 **

611 *

599 **

586

546.47 (USD-last)

533

525 **

505 *

493 **

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