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Adobe Inc (ADBE) Down 4.11%; Crosses 20 Day Moving Average

The Hourly View for ADBE

Last Updated October 5, 2020, 11:19 GMT

At the moment, ADBE’s price is down $-6.63 (-1.33%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as ADBE has now gone down 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. Regarding Moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them so that price is now turning below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50 and 100 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Adobe Inc Daily Price Recap

Adobe Inc’s 5 day positive streak has officially concluded, as the candle from the day prior closed down 4.11% ($20.52). The price move occurred on stronger volume; specifically, yesterday’s volume was up 24.16% from the day prior, and up 8.66% from the same day the week before. Here is a daily price chart of Adobe Inc.

ADBE

Adobe Inc Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Adobe Inc crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For another vantage point, consider that Adobe Inc’s price has gone up 7 of the previous 10 trading days.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about ADBE:

    My previous and initiated trades:
    Holding $DOCU 225C for a 45% gain
    Holding $SE 160C for a -18% loss
    Holding BIGC 95C for a -26% loss
    Initiated $ADBE 497C
    Initiated ISRG 717.5C
    Initiated $FDX 257.5C
    Initiated HD 277.5C
    I’m done trading for today. There’s a lot of potential left. Glta 🥂 $SPY

    – MakerKong

The post Adobe Inc (ADBE) Down 4.11%; Crosses 20 Day Moving Average appeared first on CFDTrading.



This post first appeared on Complete CFD Trading Guide, News And Analysis, please read the originial post: here

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Adobe Inc (ADBE) Down 4.11%; Crosses 20 Day Moving Average

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