Adobe (ADBE) Price Near $462.55; in a Downtrend Over Past 30 Days

The Hourly View for ADBE

Last Updated November 23, 2020, 12:8 GMT

At the time of this writing, ADBE’s price is down $-1.77 (-0.38%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. 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

462.92 was the closing price of the day for Adobe Inc, resulting in today being one in which price moved down 0.75% ($3.49) from the previous day. This move happened on lower volume, as yesterday’s volume was down 42.81% from the day before — and down 31.99% from the same day the week before. Let’s take a look at the daily price chart of Adobe Inc.


Adobe Inc Technical Analysis

The first thing we should note is that Adobe Inc is now close to its 20 and 100 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 7 out of the past 14 days.

Overheard Around the Web

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

    Ark Funds – up to 3MM shares. They continue to add at a 10K/share a day clip on average. Their biggest bet has been $TSLA and known as one of the best performing technology funds out there

    – Suvretta Capital Management: 4.1MM shares. Run by former SAC (Steve Cohen) investment professional who also worked at Soros Capital Management. Other big investments include $ADBE, $AMZN

    – Soros Capital Management: now in for 1MM shares. A new position. Everyone knows who this guy is.

    – FMR LLC – newly added about 800K shares. They are a little known money manager called Fidelity. As one of the biggest mutual fund/money managers in existence, this is huge.

    These four groups provide tremendous validation to IPOB/Opendoor – nameplate anchors in the equity (who collectively now own close to 25% of the float) who will help attract a ton of followership as this gets to merger.