ADBE has been treating us with a nice bullish flag above the ascending channel that has been going on since 2018. Last month the flag was broken upward, signaling a continous uptrend if fundementals allow for it.
Before adobe is ready to conquer new ground, it is looking for support. Without it, it has bounced back into the channel from a small resistance around 520.
Places where support can be found: Weak support at 473, strong Support at 458. I believe it will not fall below 458, if it does we will go back into the channel and fall further down.
Facing resistance around 536 (previous ATH) and 613 (fib),
BUT if ADBE is able to break them, we could well be able to see a continuation of the strong uptrend before the flag and reach for a target around 667.
Before adobe is ready to conquer new ground, it is looking for support. Without it, it has bounced back into the channel from a small resistance around 520.
Places where support can be found: Weak support at 473, strong Support at 458. I believe it will not fall below 458, if it does we will go back into the channel and fall further down.
Facing resistance around 536 (previous ATH) and 613 (fib),
BUT if ADBE is able to break them, we could well be able to see a continuation of the strong uptrend before the flag and reach for a target around 667.