Adobe Inc.s stock price (ADBE) declined in latest intraday trading, amid the dominance of the main downward trend in the short term and trading alongside a descending trend line, with ongoing negative pressure from trading below the 50-day SMA. With its recent drop, the stock broke below the current support level of $373.75, following earlier moves that successfully vented off its oversold saturation on the Stochastic allowing room for further losses in the near term.

Therefore we expect the stock to decline in upcoming trading, especially if it confirms the break below $373.75, targeting the pivotal support level of $338.65.

Todays price forecast: Bearish