Following a strong year-to-date rebound, the share price of DAX-listed Sportswear and leisurewear giant Adidas may be vulnerable to a lapse of support as it re-tests it’s breakdown level as well as the overhead resistance going back to it’s all-time high peak of €218 on 28 August 2018. At it’s last close of €207.07, the price is starting to roll over from...
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Important: Wait for the Breakout and sell the retracement!
Target 1: 172,00
Target 2: 165,15
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Traders can look to have another go (short) at the sportswear giant.
Technically, we have the price testing the downward trend line resistance, with 207 being a significant breakdown level.
Short at current price: 206.90
Judging by the candle structure, the move higher (from the "gap" close) on 11-October has been rather choppy, with the 50-day MA now acting a resistance level and starting to roll over.
I am looking for a break of the upward trend line to take the price back to it's 200dma which is €12 lower at €195.
Short/Sell current levels at €206.40
We can see that Adidas recently tested the long-term upwards moving trendline, taken from the lowest point of August 2015, from which it quickly rebounded. Also, the stock is aiming for the 192.10 resistance level, a break of which could set the stage for a potential move higher (Please see the chart for details).
Alternatively, for us to turn...
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...
After several days of climbing, Adidas AG has reached a 365 day high.
They say, once you've reached the peak, better enjoy the way down.
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Higher highs is now turning to Lower highs making a good opportunity to short. As you can see Elliot 5 waves have completed and correction is started. Price is now at golden 61.8 ratio. On the other hand, we have a possible head and shoulder pattern(reversal pattern). The position to short would be at 184.50 with target zones 166.00; 142.00. Stop loss would be...
Focusing on the quality of its products, Adidas is in full fight with its main competitors especially with Nike.
Adidas begins to be more and more strong in important markets such as China and the USA, we all know the quality of their products and with a strong strategy in online sales is definitely a good prospect.
Charts and stock prices are obviously not the...
Fundamental analysts suggest a current potential ranging between +6% and +25% (median: +17%)
Q3 earnings will be announced on November 9
Technically, ADIDAS has approached a major support trendline
I believe ADIDAS has reached a bottom and may soar within the next weeks