The Hourly View for ADBE
Last Updated February 19, 2021, 12:44 GMT
At the time of this writing, ADBE’s price is down $-7.95 (-1.62%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as ADBE has now gone up 4 of the past 5 hours. 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 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Adobe Inc Daily Price Recap
Adobe Inc closed the previous day down 0.58% ($2.86); this denotes the 2nd consecutive day it has gone down. The change in price came along side change in volume that was down 14.69% from previous day, but up 5.38% from the Thursday of last week. Below is a daily price chart of Adobe Inc.
Adobe Inc Technical Analysis
Coming into today the current price of Adobe Inc is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 9 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!
Overheard Around the Web
Here’s what one trader on StockTwits recently had to say in regards to ADBE:
$ADBE giving us a great setup. We have now been moving sideways within a wave 4 corrective phase for 176 days. I think its time for this to move. Below is my exact trade plan📈