We are trading within a downward channel. After the recent corrective rise we had reached its ceiling but could not break the channel. As the trend remains bearish I suppose that we shall follow the channel now again as we did since mid August.
We are still in a downward trend. The impressive rise since mid October however is rather a correction of the summer decline which we have corrected 2/3 now. I think that the correction has been to fast for the market and the uncertainty has not gone yet. From here a profittaking seems to be more likely to me. Let's see whether the expected renewed decline will...
We are facing an important resistance here. It was a resistance in mid August already and held. And it had been a support from May to June. Now it is a 38 % Fibonacci mark for the February to June period. I think that this is important enough to hold again at least for a while.
In a clear downtrend we are facing a cross resistance. It makes me assuming that the recent rise has been a bearish correction. The overall market looks like being in a waiting mood however due to the weekend and the uncertainty about the next FED actions.
This is the risk. But I think that adidas as a producer of lifestyle products may suffer of consumers'...
Last Friday we started a temporary rise and opened this week with a new gap up and have closed the September 30th window immediately. But this spike up became almost an Island Reversal when we failed to open the day higher today and even opened below yesterday's low. The bulls had the power only to close yesterday's gap up and gave up soon. Thus I expect the...
On Friday we saw a large decline after the short lived break of the MA barrier. This was in line with a decreasing momentum. Today we could not manage to regain the lost ground and failed to reach the MA again.
With a further decline of the momentum I suppose that the stock has given up to change the downward trend and surrendered to the bears.
After the good results of the downward trades it seems now that we are facing a relatively strong support that has served as a resistance in September and October so far. Ahead of the weekend I doubt that we can fall through easily.
I am selling the € again as we have almost reached the 38,2 % Fibonacci level. This had been a support zone from August 23rd until September 21sd and may therefore become more important. Another downward attempt seems to be likely.