Adobe is Up for the 2nd Day in a Row

The Daily View for Adobe

  • At the time of this writing, ADBE’s price is up $0.1 (0.02%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Adobe has now gone down 4 of the past 5 days.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Adobe’s hourly price chart is shown below.

ADBE

The Daily View for Adobe

  • At the time of this writing, ADBE’s price is up $1.86 (0.4%) 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 20 day timeframe.
  • Of note is that the 50 day changed directions on ADBE; it is now pointing up. 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.

Below is a daily price chart of Adobe.

ADBE

Featured Adobe Idea From TradingView

Below is a trading comment entitled ADBE over 475.00 you may find interesting:

Cloud/SaaS were some of the growth leaders pre and post-COVID but have significantly cooled off since the peak in August/September and did not rally to the degree other names did in November – February. ADBE is forming a flag on the weekly viewing shown here on the daily, entry provided at 475.00 over VPOC, price action resistance which also serves as a “round number” psych level.

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