ADSGN trade ideas
Adidas Stock Way Too OverpricedAdidas’ growth was spectacular, but it is a thing of the past now. Hoping that the stock would double again from here is, in my opinion, wishful thinking.
ADIDAS in ascending triangleFrom the top in January 2014 (€ 93) and the bottom in October 2014 (€ 53) ADIDAS has been in a major uptrend which extended to the 2.618 fibonacci projection level (€ 160). The rising support line forms an ascending triangle together with the flat resistance line at the top. A breakout from the ascending triangle should lead to a major move in either direction. A downward breakout leads to a minimum price target of € 118 (the 1.618 fibonacci level).
Short on AdidasIt seems bulls have lost the strength to push the price higher. A double top and a long bearish marubozu with big volumes, are reasons enough to short the stock. Furthermore, with the recent movement upwards, the stocks has failed to hit new higher-highs, giving further fuel to bearish forces.
ADSD @ daily @ closed higher while last 4 trading daysThis is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
.zip (with PDF`s) @ my Google Drive
Break Ups (Dax Index incl. all shares)
drive.google.com
Best regards :)
Aaron
ADSD @ Daily @ with +69% in 2016 best DAX Performer & in a trendTake care
& analyzed it again
- it`s always your decision ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
DAX 30 Index & all Shares (2016 yearly Performance) @ drive.google.com
Best regards
Aaron
Adidas can soon break its major resistanceAdidas will break soon the major resistance of the 159€, the break of this limit can initiate a new bullish rally for the stock
