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 $1.08 (0.29%) from the hour prior.
  • It’s been a feast for bulls operating on an hourly timeframe, as Adobe has now gone up 5 of the past 5 hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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, 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 $5.62 (1.55%) from the day prior.
  • The daily chart shows that Adobe has seen 2 straight up days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
  • 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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