ADS.DE pushes through 200-day moving average
Moving higher for the 2nd day in a row, ADS.DE ended the week 3.44% higher at 187.75 after gaining €2.45 (1.32%) today. Today's closing price of 187.75 marks the highest close since June 27th. Closing above Thursday's high at 185.40, Adidas confirms its breakout through the previous session's high having traded €3.15 above it intraday.
Friday's trading range was €2.40 (1.29%), that's below last trading month's daily average range of €3.34. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
Breaking through the key resistance level at 186.80 today, it is now likely to act as support going forward. After trading as low as 186.15 during the day, the stock found support at the 20-day moving average at 186.25.
The share shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The market managed to break above the 200-day moving average at 186.71 today for the first time since June 27th.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.
Market Conditions for Adidas AG
|Bearish Bounce off SMA 50||TQ Pro Members Only|
|RSI(2) above 80||TQ Pro Members Only|
|Last Engulfing Top Pattern||TQ Pro Members Only|
|Bullish Outside Bar||TQ Pro Members Only|
|3 Consecutive Higher Closes||TQ Pro Members Only|
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