JFD_Research

Adidas - Daily - Will the trendline hold?

XETR:ADS   ADIDAS AG NA O.N
Trade Alert

Something to keep an eye on for the time being.

The stock is not far from its upwards moving trendline , drawn from the 10th of November 2016, which could act as a nice bouncing ground again. If that's the case, then we could see the stock attempting the 187.10 zone again, a break of which could lead towards the 193.05 area.

If the aforementioned trendline eventually breaks, then this could lead to a drop in the price to the 171.55 area and maybe further declines are possible.

Don't forget your stops.

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