Adobe Inc (ADBE) Down 4.87%, in an Uptrend Over Past 30 Days; Evening Star Pattern Appearing on Chart

Adobe Inc Daily Price Recap

Adobe Inc entered today at $507.8, down 4.87% ($26) from yesterday. The price move occurred on stronger volume; specifically, yesterday’s volume was up 110.19% from the day prior, and up 52.67% from the same day the week before. Here is a daily price chart of Adobe Inc.

ADBE

Adobe Inc Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For another vantage point, consider that Adobe Inc’s price has gone up 18 of the previous 30 trading days. Also, candlestick traders! Note we see evening star pattern appearing here as well.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to ADBE:

    $DOCU we need a breather and we’re getting one. Everyone chill. Incredible quarter and incredible run. Longs: be grateful as this is a sign of a healthy, high-growth company. DocuSign can be forgiven for a pullback after going up over 200% in a year. This is a big-time company. Consider it early $ADBE or $CRM – be patient – shaking out day traders and margined accounts is a good thing. I was in the market during the dot.com boom and bust. We are not anywhere close to a bubble right now. The digitization of every industry is upon us, thanks to covid. Embrace it and prosper. Fight it and fade to black… just sayin’… give this a week TJ shake out weak hands and we’ll continue to rise to greater and more significant heights!!!

    Mort434