Adobe (ADBE) Closes Prior Hour Down -0.16%; in an Uptrend Over Past 90 Days, Pin Bar Pattern Appearing on Chart, 2 Day Down Streak Snapped

The Hourly View for ADBE

Last Updated September 15, 2020, 23:6 GMT

At the time of this writing, ADBE’s price is up $11.72 (2.41%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Of note is that the 50 hour changed directions on ADBE; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50 and 100 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 485.91 US dollars, up 3.09% ($14.56) from yesterday. The price move occurred on volume that was down 8.04% from the day prior, but up 47.56% from the same day the week before. Below is a daily price chart of Adobe Inc.

ADBE

Adobe Inc Technical Analysis

The first thing we should note is that the current price of Adobe Inc is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For another vantage point, consider that Adobe Inc’s price has gone down 6 of the previous 10 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard Around the Web

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

    $ADBE If the market is up tomorrow, we will 525-530 tomorrow, maybe even at the opening, if the market opens flat or down, it opens at 507-510 and then goes higher.

    Doesn't matter to me because I made 333k in TSLA today, so its just extra money.

    They did beat earnings but apparently companies have to smash earnings by 50% or more like FDX did in order to go up 10%, per MM's rules.

    Good luck to all

    Stock should be 600 bucks because we know unfortunately Covid-19 will get worse this fall and winter with a projected 600k in the US to day by the end of December 2020

    Also, ppl need their memes and youtubers need this software as well.

    Easy Money folks

    $SPY

    Incredible_Hulk_trading