Adobe (ADBE) Price Near $458.06; Moves Down For the 2nd Straight Day, in a Downtrend Over Past 14 Days, Price Base in Formation Over Past 90 Days

The Hourly View for ADBE

Last Updated January 18, 2021, 02:018 GMT

Currently, Adobe’s price is up $2.1 (0.45%) from the hour prior. Adobe has seen its price go down 12 out of the past 14 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend 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

Adobe Inc is down 1.12% ($5.19) since the previous day, marking the 2nd straight day it has gone down. This move happened on lower volume, as yesterday’s volume was down 13.73% from the day before — and down 27.19% from the same day the week before. Let’s take a look at the daily price chart of Adobe Inc.

ADBE

Adobe Inc Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 8 out of the past 14 days.

Overheard Around the Web

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

    $MU $GOOGL $AVGO $adbe $msft

    β€œMicrons Investor day” 1-14-21

    As we look ahead, we are excited about the growth and health of our diverse end markets, which continue to benefit from powerful secular technology trends, including AI, cloud, 5G and the intelligent edge.
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    StockMaster00077