Adobe (ADBE) Closes Last Hour Down $-1.29; in an Uptrend Over Past 30 Days

The Hourly View for ADBE

Last Updated October 20, 2020, 09:016 GMT

At the moment, ADBE’s price is down $-0.51 (-0.1%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as ADBE has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 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 choppiness in the recent daily price action of Adobe Inc continues; to start today, it came in at a price of 495.2 US dollars, down 1.52% ($7.62) since the previous day. The price move occurred on volume that was down 27.86% from the day prior, but up 10.95% from the same day the week before. Here 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. 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 5 of the previous 10 trading days.

Overheard Around the Web

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

    #Levermann #Global #BigCap #Buy WK42 $ADBE (4), $NFLX (5), $INTC (4), $ORCL (4), $AMD (5), INTU (4), ALV.DE (4), APD (5), REGN (4), AMAT (5) https://tinyurl.com/y4rraetp

    Aigner_Andreas