Adobe price tests downward correctional trend line - Forecast today - 23-05-2023

Economies.com
2024-05-23 11:11AM UTC

Adobe’s stock price (ADBE) inched up in the intraday levels, testing the downward correctional trend line in the short term, while touching the resistance of the 50-day SMA, coupled with negative signals from the RSI after reaching overbought levels. 

 

Therefore we expect the stock to return lower, targeting the support of $453.00, provided it settles below the resistance of $498.70. 

 

Trend forecast: Likely Bearish 

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