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Adobe Inc (ADBE) “On a long-term technical basis, the stock (ADBE) is trading below its 200-day moving average which implies it is in a negative trend. However, the stock has broken through an important trendline at 285.49 suggesting the next level of support is 267.22. The long-term uptrend has now turned neutral.
The stock has support at 267.22. The stock will meet resistance at 275.47 and 289.59. If the stock breaks up through resistance at 275.47 then it will probably continue higher to 289.59. The 200-day moving average is at 275.47. This will also act as resistance. If the stock closes below 266.49 a negative trend change is probable. Look for the stock to fall to the level where it started prior to the latest big upmove. The stock is slightly oversold according to the Stochastic Indicator (29.44).”
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