Adobe May Be Offering a Trading Opportunity With Its Cross Below Its 20 Moving Average

The Hourly View for Adobe

  • Currently, ADBE’s price is up $4.68 (1.16%) 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 20 hour timeframe.
  • Of note is that the 100 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

  • At the time of this writing, ADBE’s price is up $18.34 (4.72%) 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.
  • Most noteworthy in the world of moving averages on the daily chart is that the 20 day moving average has been crossed, with price now being above it. 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

Featured Adobe Idea From TradingView

Below is a trading comment entitled Adobe – Still to Fall or Has It Reached Support Area? you may find interesting:

Is one of the leading digital media companies Adobe already attractive for investors? Let’s look at fundamentals and technical aspects. Fundamental indicators: Revenue and Profits – demonstrated consistent and explosive long-term earnings growth over the past 10 years Profit margin – impressive 40% in 2021 P/E – still overpriced with 37x ratio Liabilities – no problems with debt Technical Analysis (Elliott Waves): The sharp drop in March 2020 has completed a Running Flat correction that lasted for more than year and a half Since then Adobe has enjoyed over 170% gain in its share price with a clear impulse mov…

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