Adobe Wave Analysis – 18 June, 2020

• Adobe reversed from support level 386.50

• Likely to rise 430.00

Adobe has been rising steadily in the last few trading sessions after the earlier upward reversal from the key support level 386.50 (former multi-month resistance level from the middle of February).

The upward reversal from the support level 386.50 accelerated the active short-term impulse sequence 5- which belongs to wave (3) from April. Adobe is likely to rise further toward the next resistance level 430.00 (target price for the completion of the active impulse wave (3)).