Germany: Adidas shares price touches the main resistance – Analysis – 24-5-2019

Economies.com
2019-05-24 08:25AM UTC

Adidas shares price trading extended strongly to the upside to touch the main bullish channel’s resistance at 264.65, reaching the previously suggested main target, while the upcoming scenario depends on the strength of the current resistance to expect fluctuating below it and form correctional bearish rebound to push the price to decline towards 250.50 followed by 234.35 that forms the additional support that appears on the chart.

 

The bullish scenario requires breaching the current resistance and get a positive close above it, to hint moving into new positive track to expect targeting new historical levels that might start at 269.60 followed by 286.90 levels.

 

The expected trading range for today is between 265.00 and 250.50

 

The expected trend for today: Bearish

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