Adobe (ADBE) Price Near $491.11; 3 Day Down Streak Broken

The Hourly View for ADBE

Last Updated September 10, 2020, 15:8 GMT

Currently, ADBE’s price is up $17.78 (3.71%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them with price now being below it. 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

Adobe Inc is up 3.75% ($17.33) since yesterday, marking a reversal from the day prior — and the end of a 3 day negative run. The price move occurred on volume that was down 27.04% from the day prior, but up 66.29% from the same day the week before. Below is a daily price chart of Adobe Inc.

ADBE

Adobe Inc Technical Analysis

Coming into today Adobe Inc is now close to its 20 day averages, located at 485.21 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 14 days.

Overheard Around the Web

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

    $ADBE ###
    Economy recovering – no impact of jobless claim.same old news. every week jobs are increasing

    All Tech stocks will rule and turn green from today GREEN GREEN and GREEN. There is no medicine until next year. and It takes 2021 complete year if medicine comes also. EAll tech stocks double and tripple. Just dont trust any rumors and do panic sell. keep loading as they are more low now and great big money. CRM has great market, great customers, great potential to grow and its earnings are very very high. it goes like adoble $500 in a month or two.

    CRM – No alternate to CRM salesforce and its customer base.$300 to $500 soon
    DOCU – No alternate to DOCU and its institutional customers. $300 to $350 soon
    TSLA – No alternate to Elon and 200 Years ahead of future business thinking.$750 by Thanks giving time.
    AAPL – No alternate Mobile stock and its enormous cash reserves – Stable stock.$225 by Thanks giving sale.

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