The Hourly View for Adobe
- At the time of this writing, ADBE’s price is up $0.61 (0.11%) from the hour prior.
- This is a reversal of the price action on the previous hour, in which price moved down.
- If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
- Price action traders may also wish to note that we see a pin bar candlestick pattern on Adobe. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- The moving averages on the hourly 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.
Adobe’s hourly price chart is shown below.
The Daily View for Adobe
- Currently, ADBE’s price is down $-18.16 (-3.14%) 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 trend trader, consider that the strongest clear trend on the daily chart exists on the 50 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.
- Divergence alert: Trend in ADBE’s price and its RSI are diverging. ADBE’s price is declining faster than its RSI.
Below is a daily price chart of Adobe.
Featured Adobe Idea From TradingView
Below is a trading comment entitled Adobe you may find interesting:
Although I still feel this stock is oversold and I think we visit 480’s by Thanksgiving; Right now its Temporarily oversold. First target -595Second target- 602 gap closeFinal target – 618 gap close