ADBE continues to trade within a broad descending channel while maintaining contact with its long-term ascending support trendline.
Price recently retested the major horizontal support near $330 — a level that has acted as a critical demand zone multiple times in the past — and responded with a notable bounce, reflecting renewed buying pressure and potential accumulation.
If this recovery holds, price action could gravitate toward the descending resistance trendline, with a primary upside target around $639, which aligns with prior swing highs and the upper boundary of the channel.
The RSI is recovering from mid-range levels, suggesting there is still upside momentum potential before entering overbought territory. Sustained strength above $350–$360 would further validate the bullish bias and may attract additional momentum buyers.
Conversely, a decisive breakdown below $330 and the ascending trendline would invalidate the current structure and expose the stock to deeper downside risk toward the $280 region.ear.
Price recently retested the major horizontal support near $330 — a level that has acted as a critical demand zone multiple times in the past — and responded with a notable bounce, reflecting renewed buying pressure and potential accumulation.
If this recovery holds, price action could gravitate toward the descending resistance trendline, with a primary upside target around $639, which aligns with prior swing highs and the upper boundary of the channel.
The RSI is recovering from mid-range levels, suggesting there is still upside momentum potential before entering overbought territory. Sustained strength above $350–$360 would further validate the bullish bias and may attract additional momentum buyers.
Conversely, a decisive breakdown below $330 and the ascending trendline would invalidate the current structure and expose the stock to deeper downside risk toward the $280 region.ear.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.