Adobe (ADBE) Closes Prior Hour Up 0.88%; Heads Down For the 2nd Day In A Row, in an Uptrend Over Past 90 Days

The Hourly View for ADBE

Last Updated September 17, 2020, 23:8 GMT

At the moment, ADBE’s price is down $-4.78 (-1%) from the hour prior. The hourly chart shows that ADBE has seen 3 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Of note is that the 50 hour changed directions on ADBE; it is now pointing up. 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 down 0.36% ($1.7) since the day prior, marking the 2nd day in a row a decrease has occurred. The price move occurred on volume that was down 46.37% from the day prior, but up 2.85% from the same day the week before. Below is a 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. 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:

    BoA/ML Securities 5-star analyst reiterated Buy Rating on $ADBE & keeps a TP of $570.

    “Adobe is an underappreciated ‘vaccine' and ‘vitamin' (Cloud Wars XII) and will continue to benefit from sustainable pull-forward and higher priority of digital transformation initiatives,”

    The BofA Securities analyst added that he expects Adobe's Digital Experience margin improvement to drive 150-200 basis points of margin expansion in fiscal year 2021.

    Ro_Patel