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