1
Adobe stock price defends $500 support and is trying to climb above the 50-day EMA.
2
ADBE stock price corrected 11% from the recent swing high.
3
The share price of Adobe Inc. still sustains above the 200-day EMA.
Adobe stock price showed a minor bounce of 3.70% in the previous session and is trying to climb above the 50-day EMA. It formed a bullish reversal candle after seven days of consecutive falls.
ADBE stock price took support near $500 and buyers came forward to push the price higher. If they succeed in regaining the 50-day EMA then the short-term trend might reverse in an upward direction.
Previously, Adobe Inc. stock price attempted thrice to break out of the $560.00 hurdle. But every attempt failed and sellers succeeded in reverting the prices down.
In the recent down move, the selling volume also surged, indicating that some long-term investors preferred to book profits.
Meanwhile, the whole technology sector and b
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