Adobe recoups after leaning on rising price channel's support - Analysis - 09-08-2019

Adobe's stock rose in the short term after leaning on the support of the rising price channel that guided recent trading, with positive signals from the RSI after reaching oversold levels, while shaking off negative pressure from the 50-day SMA. 

Therefore we expect more gains for the stock, as long as it settles above 290.45, targeting the pivotal resistance of 312.00. 

Expected trend for today: Bullish