Adobe at record highs - Analysis - 16-07-2019

Adobe's stock hit a record high at 310.50 yesterday before falling 0.21% to gather momentum, amid the dominance of the main upward trend in the medium and short terms, while trading within an ascending price channel, with positive support from the 50-day SMA, accompanied by positive signals from the RSI. 

Therefore we expect the stock to rise as long as it settles above 300.00, targeting the resistance of 312.85. 

Expected trend for today: Bullish