Adobe (ADBE) Closes Last Hour Up $3.52; in a Downtrend Over Past 14 Days, Heads Down For the 2nd Day In A Row

The Hourly View for ADBE

Last Updated November 3, 2020, 01:014 GMT

Currently, ADBE’s price is up $5.35 (1.2%) from the hour prior. The hourly chart shows that ADBE has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 0.48% ($2.16) since yesterday, marking the 2nd day in a row it has gone down. This move happened on lower volume, as yesterday’s volume was down 22.23% from the day before — and down 6.87% from the same day the week before. The daily price chart of Adobe Inc below illustrates.

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 down. For another vantage point, consider that Adobe Inc’s price has gone down 9 of the previous 14 trading days.

Overheard Around the Web

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

    Top software companies by market cap 👩‍💻 (as of today)

    1. Apple ( $AAPL ) $1.847 T
    2. Microsoft ( $MSFT ) $1.521 T
    3. Alphabet (Google) ( $GOOG ) $1.110 T
    4. Adobe ( $ADBE ) $211.57 B
    5. Salesforce ( $CRM ) $210.79 B

    More: https://companiesmarketcap.com/software/largest-software-companies-by-market-cap/

    CompaniesMarketCap