Adobe Inc 4 Hour Price Update
Updated September 08, 2020 04:38 PM GMT (12:38 PM EST)
ADBE traders saw its share price fall -3.89% ($-19.14) over the past four hours of trading. To help put that in perspective, note that Adobe Inc’s peers in the in the Business Services industry are down -1.11% on average during this time, while its counterparts in the broader Technology sector are down by an average of -1.53%.
Adobe Inc Daily Price Recap
Adobe Inc is down 3.12% ($15.86) since the previous day, marking the 2nd consecutive day it has gone down. This move happened on lower volume, as yesterday’s volume was down 32.55% from the day before — and down 49.26% from the same day the week before. Here is a daily price chart of Adobe Inc.
Adobe Inc Technical Analysis
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. For another vantage point, consider that Adobe Inc’s price has gone up 8 of the previous 14 trading days.
Overheard Around the Web
Here’s what one trader on StockTwits recently had to say in regards to ADBE:
Sector Briefing: Technology
The sector is currently down 6.2% for the month, having narrowed its Q3 gain to 10.7%.
KLA Corp (KLAC 180.78, -12.60, -6.5%): weakest performer in the sector, falling to its lowest level since mid-June.
Applied Materials ( $AMAT 57.36, -3.60, -5.9%): falling below its 200-day moving average (57.94) to its lowest level since mid-June.
Lam Research (LRCX 314.84, -18.28, -5.5%): falling to its lowest level since late June with its 200-day moving average (297.83) looming below.
Adobe ( $ADBE 478.69, -13.25, -2.7%): looking to remain above Friday's low with its 50-day moving average (459.43) not far below.
Microsoft ( $MSFT 208.68, -5.57, -2.6%): falling below its 50-day moving average (211.17) toward Friday's low.
Apple ( $AAPL 117.53, -3.43, -2.8%): trying to stay above Friday's low.
NVIDIA ( $NVDA 499.06, -5.84, -1.1%): fighting to stay above Friday's low.