Adobe stock drops 3.15% as bearish signals outweigh strong earnings and Nvidia partnership

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Adobe slides 3.15% to $246.20 today

Highlights

Adobe reported record quarterly revenue of $6.40 billion, up 12% year-over-year, alongside the announced departure of CEO Shantanu Narayen.
The company disclosed a major partnership with Nvidia to jointly commercialize next-generation Firefly AI models and new 3D digital twin solutions.
Despite strong fundamentals, $ADBE remains under pronounced bearish pressure, trading below key averages with indicators signaling a likely short-term range of $242.00 to $252.00 and a high probability of further downside.

Leadership change and Nvidia partnership as upside drivers amid selling pressure

On March 13, 2026, Adobe announced the departure of CEO Shantanu Narayen, which followed a quarterly report showing record revenue of $6.40 billion, representing 12% year-over-year growth, and earnings per share of $6.06. The results also noted that recurring revenue more than tripled and subscription revenue increased by 13% for the first fiscal quarter of 2026. Additionally, Adobe disclosed a new strategic partnership with Nvidia to develop next-generation Firefly AI models, agentic workflows, and new 3D digital twin solutions, with joint commercialization plans, though price action has remained under broader selling pressure.

Bearish signals across SMAs and momentum as sellers maintain control

ADBE remains firmly below its key daily SMAs, with the current price of $246.20 well under the MA-20 at $264.42, MA-50 at $282.80, and MA-200 at $337.86. This alignment reflects persistent bearish pressure across short-, medium-, and long-term trends, while the Ichimoku Kijun at $264.82 marks immediate resistance above the current price. Momentum indicators reinforce downside risks, as both MACD and ADX point to ongoing seller dominance. Daily RSI, CCI, Stoch RSI, and BBP all indicate oversold or sell conditions, confirming that sellers control the intraday tone. BBP’s strongly negative reading supports bearish momentum, while today’s move shows a gap down at the open and a further 3.15% decline, placing price near the day’s low of $247.76. Volatility has been high, with pronounced pressure after the open confirming the dominance of the prevailing downtrend. Most momentum and oscillator signals align directionally, providing little divergence in the short-term outlook.

High odds of further downside as bullish signals remain absent

Looking forward, price action over the next five sessions is expected to fluctuate between $242.00 and $252.00, taking into account the current price and recent volatility. Based on the lack of bullish signals across weekly RSI, ADX, MACD, and moving averages, there is a very high probability (more than 80%) of continued downward movement, making a reversal less likely in the near term. The baseline scenario favors continued range-bound activity between the mentioned levels. Upside scenarios require a decisive break above the $264.82 resistance area, while a clear drop below $242.00 could trigger renewed selling momentum and expose lower support.

Viktoras Karapetjanc, analyst at Traders Union, sees persistent bearish momentum for Adobe Inc. despite strong fundamentals like record revenue and a promising Nvidia partnership. He believes macro and sentiment pressures, especially the CEO transition, are outweighing bullish factors in the near term. Price remains locked below major moving averages, and the technical picture aligns with ongoing selling. The outlook stays constructive longer-term given strong fundamental drivers but requires patience. "While short-term pressure dominates, I see Adobe’s strong fundamentals and strategic moves as a foundation for eventual recovery once sentiment stabilizes."

Earlier, analysts noted that despite strong earnings and leadership changes, Adobe faced ongoing bearish momentum and technical weakness. The current analysis reinforces this outlook, highlighting a persistently negative trend and indicating that traders should monitor for a decisive move below $242.00 as a potential trigger for further downside.

Source of Data: ADBE Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.