Adobe is Up for the 3rd Day in a Row

The Hourly View for Adobe

At the moment, ADBE’s price is up $1.13 (0.3%) from the hour prior.
It’s been a feast for bulls operating on an hourly timeframe, as Adobe has now gone up 4 of the past 5 hours.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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.

At the time of this writing, ADBE’s price is up $12.09 (3.31%) from the day prior.
This is the 3rd day in a row Adobe has seen its price head up.
As for the trend on the daily timeframe, we see the clearest trend on the 20 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.

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