Adobe opens lower - Analysis - 22-08-2019

Adobe's stock fell at the open while trading within an ascending price channel that guided recent medium-term trading, with positive signals from the RSI, while attempting to pierce the resistance of 290.45, amid negative pressure from the 50-day SMA. 

Therefore we expect the stock to rise in the short term, provided the resistance of 290.45 was breached, targeting the next one at 312.65. 

Expected trend for today: Bullish