Adobe Inc (ADBE) Heads Down For the 2nd Straight Day, Breaks Below 200 Day Average; Price Base in Formation Over Past 30 Days
Company is a bit expensive, but it is a market leader and growing.
(Last Updated March 4, 2021)
Hello! This is the news page for Adobe Inc. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Perhaps the most noteworthy trend we’re seeing on ADBE is at the 14 day level, where a clear downtrend is apparent.
Nuances in the trend on ADBE can be understood by observing the behavior of its moving averages. Of the 20, 50, 100, and 200 day averages — three of them (all but the 200) — are bearish, suggesting the trend is generally downward, aside from a spike about 6 months prior.
Below is a chart showing ADBE’s price with its moving averages.
Company is a bit expensive, but it is a market leader and growing.
Guess what all those people on $fvrr need to use in order to have a company grow 800% in a year.
This move is a reversal from the hour prior, which saw price move up.
Continues to have long term advancing dollar flow and recent institutional buying.
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
It’s been a feast for bulls operating on an hourly timeframe, as adbe has now gone up 4 of the past 5 hours.
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
I wish the $gme reddit crowd had a warm spot for adobe photoshop as much as they love games, we're just getting relentlessly hammered when this should be well in the 500's.
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.