Adobe is Up for the 2nd Day in a Row

The Hourly View for Adobe

  • At the time of this writing, ADBE’s price is up $1.32 (0.23%) from the hour prior.
  • Adobe has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls.
  • 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 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Adobe’s hourly price chart is shown below.

ADBE

The Daily View for Adobe

  • Currently, ADBE’s price is up $5.57 (0.96%) from the day prior.
  • This is the 2nd day in a row Adobe has seen its price head up.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Adobe. Given that we see downtrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between ADBE’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in ADBE’s price.

Below is a daily price chart of Adobe.

ADBE

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