ADS.DE pushes through 50-day moving average


Adidas AG (ADS.DE) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
ADS.DE pushes through key resistance level
ADS.DE dominated by bulls lifting the market higher throughout the day
ADS.DE pushes through 50-day moving average
ADS.DE ends the day on a bullish note closing near the high of the day
ADS.DE finds buyers again around 193.45
TQ Sentiment
Technical Forecast:
Overview

ADS.DE finished Thursday at 198.75 gaining €3.85 (1.98%). The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 197.15, Adidas confirms its breakout through the prior session's high having traded €2.50 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for ADS.DE
Volatility

Thursday's trading range was €6.20 (3.2%), that's far above last trading month's daily average range of €4.26. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 193.45 and 200.60 which it has been in now for the last trading week.

Price Action

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bullish Outside Bar. Despite a weak opening the market managed to close above the previous day's open and close, forming a bullish Engulfing Candle.

Support/Resistance

Breaking through the key resistance level at 197.40 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 200.60. After having been unable to move lower than 193.85 in the prior session, the stock found buyers again around the same price level today at 193.45.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The share managed to break above the 50-day moving average at 198.11 today for the first time since June 6th.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 200.60 where further buy stops could get triggered. Further buying might move prices higher should the market test May's close-by high at 204.96. As prices are trading close to June's low at 193.10, downside momentum could speed up should ADS.DE mark new lows for the month.

Conclusion

While classical technical analysis indicates a bullish sentiment for the next trading day, our quantitative statistics show a different picture being very bearish.

Market Conditions for Adidas AG
ConditionForecastDirectionWinAvgWorstBest
Bearish Break through SMA 50 TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
Bearish Belt-hold TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
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