Adobe Snaps a 4 Day Down Streak

The Daily View for Adobe

  • At the moment, ADBE’s price is down $-1.13 (-0.22%) 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.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Adobe. Given that we see an uptrend on the 10 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.

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 $8.82 (1.74%) from the day prior.
  • Adobe has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • 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 Pop Up you may find interesting:

ADBE ran down to the 507 support line, and popped up from there. Looking for a quick retest of the previous 525 high. A crack beneath 502 would trigger an exit.

BBTrader29