Adobe Inc (ADBE) Down 0.63%; in a Downtrend Over Past 14 Days

The Hourly View for ADBE

Last Updated March 3, 2021, 12:42 GMT

Currently, ADBE’s price is down $-3.24 (-0.69%) from the hour prior. ADBE has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. 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

The back and forth price flow continues for Adobe Inc, which started today off at 466.59 US dollars, down 0.63% ($2.98) from the previous day. This move happened on lower volume, as yesterday’s volume was down 6.27% from the day before — and down 18.73% from the same day the week before. The daily price chart of Adobe Inc below illustrates.

ADBE

Adobe Inc Technical Analysis

Notably, Adobe Inc is now close to its 200 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 30 days Adobe Inc’s price has gone up 19 them.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about ADBE:

    $ADBE makes sense to me… Adobe is the Godmother of software for creatives. Guess what all those people on $FVRR need to use in order to have a company grow 800% in a year. YUP Adobe! Needless to say, with $ETSY and $MIK makers – This is going to $500 in a blink of an eye and lets see what earning have in store!

    Vane215