Adobe Inc (ADBE) “On a long-term technical basis, the stock (ADBE) is trading above its 200-day moving average which implies it is in a positive trend. However, the stock has broken through an important trendline at 281.66 suggesting the next level of support is 276.78. The long-term uptrend has now turned neutral.

The stock has support at 276.78 and 257.46. If the stock breaks down through support at 276.78 then it will probably continue lower to 257.46. The stock will meet resistance at 280.86 and 299.76. If the stock breaks up through resistance at 280.86 then it will probably continue higher to 299.76. The 200-day moving average is at 273.30. This will also act as support. If the stock closes below 263.56 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 neutral according to the Stochastic Indicator (48.31).”

Adobe Inc. (ADBE) “On a long-term technical basis, the stock (ADBE) is trading above its 200-day moving average which implies it is in a positive trend. However, the stock has broken through an important trendline at 277.82 suggesting the next level of support is 276.78. The long-term uptrend has now turned neutral.

The stock has support at 276.78 and 260.63. If the stock breaks down through support at 276.78 then it will probably continue lower to 260.63. The stock will meet resistance at 277.82 and 293.57. If the stock breaks up through resistance at 277.82 then it will probably continue higher to 293.57. The 200-day moving average is at 270.97. This will also act as support. If the stock closes below 260.63 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 neutral according to the Stochastic Indicator (44.65).”