Adobe Came Into Today Up 1.13%

The Hourly View for Adobe

  • At the time of this writing, ADBE’s price is up $1.61 (0.29%) from the hour prior.
  • The hourly chart shows that Adobe has seen 2 straight up hours.
  • Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
  • Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning above it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Adobe’s hourly price chart is shown below.

ADBE

The Daily View for Adobe

  • At the moment, ADBE’s price is up $6.29 (1.13%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Adobe. Given that we see downtrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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 between ADBE’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in ADBE’s price.

Below is a daily price chart of Adobe.

ADBE

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