CA - Adobe's Chart Paints A Rosy Picture But We Should Be Cautious (Technical Analysis)
2024-07-15 03:12:51 ET
Summary
- Adobe Inc. is a major player in the tech industry known for software like Photoshop and Acrobat.
- Short-term outlook shows recent stock performance, resistance at $580.55, and overbought RSI at 65.05.
- Medium-term outlook reveals strong support at $434, resistance at $638.25, and stock price above key moving averages.
- This article discusses entry points and the technical reasons for them, both in the short and medium terms, for Adobe.
Introduction
Adobe Inc. ( ADBE ) (ADBE:CA) is a major player in the tech industry, known for software like Photoshop and Acrobat. Primarily, Adobe's business model is as a "SaaS" or "software as a service," where users pay Adobe subscription fees in return for access to their software suite....
Adobe's Chart Paints A Rosy Picture, But We Should Be Cautious (Technical Analysis)