Adobe rises alongside the downward trend line - Analysis - 24-05-2022

Adobe's stock (ADBE) rose 1.92% in the last session, or 7.67 points, settling at 406.76, with trading volumes surpassing 2.3 million shares, below 10-day averages of 3.3 million shares, amid the dominance of the main downward short-term trend, with negative pressure from the 50-day SMA after reaching overbought levels, starting to form a negative divergence.

Therefore we expect the stock to return lower, targeting the support of 370.40 anew, provided the resistance of 416.80 holds on.

Expected trend for today: Bearish