Adobe leans on main upward trend line - Analysis - 06-04-2020

Adobe's stock slid in the last session amid negative pressure from the 50-day SMA, with negative signals from the RSI, steadying below the support of 295.62, representing the ratio 50% of Fibonacci retracement levels for an ascending wave, while leaning on the main upward medium-term trend line. 

Therefore we expect the stock to return higher, targeting the resistance of 317.04, representing the ratio 38.2% of the same retracement levels. 

Expected trend for today: Bullish