Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Adobe’s stock price is currently trading at $512.43 with a drop of 3.44% in the last 24 hours; the current market cap is $233.566 Billion.</a> </li> 
 <li> <span>2</span> <a>ADBE stock price took a minor break after strong bullish momentum.</a> </li> 
</ul> 
<p>Adobe Stock (NYSE: ADBE) price is in a strong uptrend, trading over the top near the resistance mark of $550. Moreover, buyers are trying to achieve glory by smashing over the hurdle. However, the price recently took a rejection from $550.42 and took support on the 50 moving average hinting at the weakness in momentum. ADBE stock price jumped by more than 29.17% in the last three months. The price trading above significant moving averages signals bullishness.</p> 
<p>The price action showed that ADBE stock was crashing above the multiple tops showing the massive strength of bulls who continued to make long positions.&nbsp;</p> 
<p>At press time, Adobe stock was traded at $512.43 with an intraday gain of -3.44% showing bullishness in the previous sessions. Moreover, the intraday trading volume was 2.95 Million, and the market cap of Adobe stock is $233.566 Billion.</p> 
<p>The oscillators are currently indicating that the price is overbought. The investors are optimistic regarding the performance in the upcoming week.</p> 
<p>On the 4-hour charts, Adobe stock held the gains on the neutrality and creating unbalance in an uptrend.</p> 
<p>The RSI curve is near 44.82 heading toward the oversold zone and the trend stops to favor bulls based on weak momentum seen on the charts.</p> 
<p>The MACD indicator shows a bullish crossover and green bars forming on the histogram, but trading in a neutral zone.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-adobe-stock-price-in-1-d-timeframe-strong"><strong>Technical Analysis of Adobe Stock Price in 1-D Timeframe</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh5.googleusercontent.com/GDVHTkQWpIUBbIzV-RTp4PyOE2RpMJe20jKk3ldsKEQguoEgNdoB33UUHKT0maM63i3wZMM02qPwCG3d6JjeEUqptBzefnfHARgLzz2EItHf9sSe1arShFNLBpjnVEyTC_Rtau7_RSmG3TLKpXwBhqw" alt="Adobe Stock Price Prediction: Will ADBE Break Below $500?">
  <figcaption class="wp-element-caption">
   Source: Adobe .1D.NASDAQ by TradingView
  </figcaption>
 </figure>
</div> 
<p>Adobe (NASDAQ: ADBE) has steadily seen its stock price rise for the past three months, gaining 29.17%. Currently, ADBE stock is trading at $512.43 and has been trying to hold on to this level after a significant surge in price. If it can keep this level, the Adobe price could continue to go up and reach the first and second targets of $542.73 and $554.59, respectively. However, if the ADBE price cannot maintain this level and falls, then it might hit the closest support levels of $498.50 and $471.57.</p> 
<p>Presently, <a href="https://www.thecoinrepublic.com/2023/08/02/adobe-stock-price-rising-upwards-will-adbe-continue-the-streak/">Adobe stock (NASDAQ: ADBE)</a> is trading above the 50 and 200-day EMAs (Exponential moving averages), supporting the price momentum. Nevertheless, if buying volume shows an uptick, then the price might support bullish momentum by making higher highs and new highs. Hence, the Adobe price is expected to move upward giving bullish views over the daily time frame chart.</p> 
<p>The current value of RSI is 48.61 points. The 14 SMA is above the median line at 52.21 points which indicates that the Adobe stock is bullish. The MACD line at 2.90 and the signal line at 4.68 are above zero. A bearish crossover is observed in the MACD indicator which signals weakness in the momentum of the ADBE stock price.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>Adobe’s (NASDAQ: ADBE) technical indicators also support the bullish trend. The MACD, RSI, and EMA are highlighting favorable signs and suggest that the uptrend may persist in the ADBE stock price. Price action indicates that the investors and traders are bullish on the 1-Day time frame. The price action reflects a bullish perspective at the moment.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> The nearest support levels are $498.50 and $471.57.</li> 
</ul> 
<ul> 
 <li><strong>Resistance Levels:</strong> Nearest resistance levels are $542.73 and $554.59.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.</p>

Adobe Stock Price Prediction: Will ADBE Break Below $500?

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Thecoinrepublic.com

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