ADS.DE closes above its opening price after recovering from early selling pressure
Adidas AG (ADS.DE) Technical Analysis Report for May 17, 2018
Moving higher for the 2nd day in a row, ADS.DE finished Thursday at 195.25 gaining €1.35 (0.7%). Today's closing price of 195.25 marks the highest close since May 2nd. Trading up to €1.55 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Wednesday's high at 195.00, the stock confirms its breakout through the previous session's high having traded €0.55 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Thursday's trading range was €3.20 (1.65%), that's slightly below last trading month's daily average range of €4.31. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
Prices are trading close to the key resistance level at 197.56.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bullish.