Adobe Continues Its Sharp Trend — How Much Longer Can It Last?

The Hourly View for Adobe

  • At the time of this writing, ADBE’s price is up $0.45 (0.08%) from the hour prior.
  • This is the 3rd hour in a row Adobe has seen its price head up.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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

  • Currently, ADBE’s price is up $2.48 (0.47%) from the day prior.
  • The daily chart shows that Adobe has seen 3 straight up days.
  • Regarding the trend, note that the strongest trend exists on the 100 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 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

Featured Adobe Idea From TradingView

Below is a trading comment entitled ADBE Short Position you may find interesting:

We can see a nice rejection off of the 540 level which is also the previous swing low that was set on December 21st. ADBE has a high PE ratio of 52.88 which puts it in the category of stocks that are selling off right now due to the federal reserve scheduling rate hikes for next year and reducing it’s balance sheet. We can also see the supply/demand shifting to the down side as sellers continue to move their entries…

ThirtyninethParallelInvestment