Adobe Stock Forecast: Bullish Momentum Builds Ahead of Earnings Report

Is Adobe Stock a Buy Right Now? Technical Analysis Suggests Growing Bullish Momentum

Adobe Inc. (NASDAQ: ADBE) is showing signs of renewed bullish momentum on the weekly stock chart, following a bounce from a key support level around $323 per share. As of today, Adobe’s stock price is trading at approximately $417.12, ahead of the highly anticipated US nonfarm payrolls report, which could influence broader market sentiment.

Investors are also looking ahead to Adobe's upcoming earnings report, expected next week. The results could be pivotal in determining whether Adobe stock continues to climb or consolidates further.

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Key Technical Levels: Support, Resistance, and Moving Averages

From a technical analysis standpoint, the 200-day moving average (200MA) is an important resistance level to watch. Currently, the 200MA sits at $472.87, roughly 15% above the current price. A break and close above this level could trigger a significant bullish breakout, potentially sending the stock back above the $500 level—a price not reached since 2024.

On the downside, the $323 support level is critical. If Adobe stock falls below this level, it may signal further weakness, with the next major support around $274, representing a potential 33% decline from current levels.

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MACD Indicator Supports Short-Term Bullish Trend

The MACD (Moving Average Convergence Divergence), a widely followed momentum indicator, is currently supporting the bullish outlook for Adobe stock. The MACD has crossed above its signal line and is emerging from oversold territory—a pattern last observed in 2022.

This crossover is typically viewed as a bullish signal, indicating that buying pressure is increasing. However, investors should also monitor fundamental drivers, as earnings performance and macroeconomic news often outweigh technical patterns in influencing long-term stock movements.

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Adobe Earnings Preview: What to Watch

Adobe is set to release its Q2 earnings report next week. Analysts and investors alike will be closely watching for:

• Revenue and earnings per share (EPS) surprises

• Guidance for the next quarter and full year

• Growth in Adobe Creative Cloud and AI-related services

• Commentary on macroeconomic impacts and demand trends

Strong results could fuel positive sentiment in the tech sector, while a miss may lead to volatility or even a reversal of the recent uptrend.

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Conclusion: Adobe Stock Price Forecast – Bullish with Caution

With Adobe stock showing technical strength and the MACD turning positive, there are reasons to be optimistic in the short term. However, upcoming earnings data and broader market trends—especially related to the nonfarm payrolls report—will likely determine the next major move.

Investors considering whether to buy or sell Adobe stock should closely monitor:

• Price reaction to earnings

• Performance near key resistance at $472.87

• Broader tech sector trends and interest rate outlook