Germany: Adidas keeps the positive stability – Analysis – 29-5-2017

Adidas shares price ended its negative actions by facing the moving average 55 that supports the stability of the main bullish channel's support at 164.20, while we notice the beginning of forming bullish wave to confirm the preparation of renewing the bullish attempts and expect to target 178.15 level, while surpassing this level will renew the pressure on the recently recorded top at 188.85 to form the next positive target of the bullish bias.

Stochastic exit from the oversold areas confirms getting rid of the negative pressures to provide the price with new positive momentum that confirms the attempt to achieve the mentioned positive targets.

Expected trading range for today is between 167.70 and 178.15

Expected trend for today: Bullish