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 recently broken through an important trendline at 291.23 suggesting the next support level is at 280.86. This weakness suggests the long-term trend is turning neutral.

The stock has support at 280.86 and 266.64. If the stock breaks down through support at 280.86 then it will probably continue lower to 266.64. The stock will meet resistance at 284.98 and 304.00. If the stock breaks up through resistance at 284.98 then it will probably continue higher to 304.00. The 200-day moving average is at 269.75. This will also act as support. The stock is neutral according to the Stochastic Indicator (36.09).”