ADBE’s Price May Be in An Uptrend, but RSI Suggests Caution

The Hourly View for Adobe

  • At the moment, ADBE’s price is up $1.43 (0.24%) from the hour prior.
  • Adobe has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
  • The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Adobe’s hourly price chart is shown below.

ADBE

The Daily View for Adobe

  • At the time of this writing, ADBE’s price is up $1.6 (0.26%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Adobe has now gone up 4 of the past 5 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence alert: Trend in ADBE’s price and its RSI are diverging. ADBE’s price is rising slower than its RSI.

Below is a daily price chart of Adobe.

ADBE

Featured Adobe Idea From TradingView

Below is a trading comment entitled Strong buy – Solid Fundamentals + Dip you may find interesting:

Hello my fellow investors and traders!Today I am once again sharing a secret!Let’s have a quick look at Adobe Inc., a true digital empire, which popped up at DipDetector today.Currently it is trading at a discount of -11% from its all time high, while the balance sheet data (interpolation of EBITDA) indicates a fair value at its ATH.EBITDA increased sevenfold in the last 6 years, while total assets increased by 140%.What is more, we can see an outstanding growth in efficiency, which shows itself by taking a look at its net margin which rose to around 40%.Obviously, it wasn’t overvalued 6 years ago, as we can see above….

TeslasPikachu