Adobe is neutral

Our pivot point stands at 510.

Our preference

Look for a drop towards 510 before a bounce.

Alternative scenario

Below 510, expect 489 and 476.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the stock is below its 20 day moving average (537.339) but above its 50 day moving average (527.8116).

Supports and resistances

604 **

591 *

578 **

565

535.22 (USD-last)

519

510 **

489 *

476 **

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