Adobe Wave Analysis 3 May 2024

– Adobe reversed from support zone

– Likely to rise to resistance level 500.00

Adobe recently reversed up from the support zone lying between the support level 460.00, lower daily Bollinger Band and the 61.8% Fibonacci correction of the uptrend from May.

The upward reversal from the support level 460.00 stopped the previous impulse waves 3 and (C).

Given the strength of the support level 460.00, Adobe can be expected to rise further to the next round resistance level 500.00.