Sportswear manufacturer #ADIDAS dropped overall -47% after they had to close their local shops cause of Covid and got terrible expectations for Sales.
If we comparing the blue indicator (TEXTILES & APPARELS Index - TSE/TXA) in the chart we can see that we already reached the bottom of the crash (maybe). And the white indicator (Nike) give us a picture what stock...
Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Hi guys. As we can see the price is going up after touching the resistance line and the new target could possibly be 296.
If the stock beats this price (296) it will shoot up to 320 or more.
Besides it is quite above the moving average (60) so it indicates an upward trend.
Fibonacci retracements were also used showing that the price broke one of the...
Adidas is one of the top 10 stocks in my shortlist. I don't know why but the chart is crazy bullish. And im expecting a parabolic move to the upside in 2020
I don't have any setups yet but waiting for the levels to watch for call options
I'll be sharing ideas in a couple of days/weeeks
Adidas has been in a consistent uptrend since listing, comparable to that of Visa. With only one inverse bump and run present. Great long opportunity in these current market conditions.
Most likely Adidas ( ADS) will test 296 level one more time, and current formation Cup With the Handle before it turns on the south.
My play is pending 296. Still, 266 will be closely watched
t.me
