Adobe may rise to 658.00 - 686.00

Our pivot point is at 529.

Our preference

The upside prevails as long as 529 is support.

Alternative scenario

Below 529, expect 484 and 457.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 523.149 and 493.7766).

Supports and resistances

713 **

686 *

658 **

631

575.4 (USD-last)

546

529 **

484 *

457 **

Number of asterisks represents the strength of support and resistance levels.