Adobe adds to gains - Analysis - 19-10-2021

Adobe's stock (ADBE) rallied 2.09% in the last session, settling at 622.83, amid the dominance of the main upward trend in the medium term, nearing the resistance of the 50-day SMA, while the RSI reached overbought levels, amid attempts to gather positive momentum to shake off negative pressures. 

Therefore we expect more gains for the stock, targeting the pivotal resistance of 170.00, provided it holds above 602.45.

Expected trend for today: Bullish