Adidas AG Stock Forecast
Green day on Thursday for Adidas AG
(Updated on May 02, 2024)
The Adidas AG stock price gained 1.10% on the last trading day (Thursday, 2nd May 2024), rising from $119.49 to $120.80. During the last trading day the stock fluctuated 1.60% from a day low at $119.01 to a day high of $120.91. The price has been going up and down for this period, and there has been a 0.89% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 27 thousand more shares were traded than the day before. In total, 42 thousand shares were bought and sold for approximately $5.08 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 28.50% during the next 3 months and, with a 90% probability hold a price between $141.87 and $163.09 at the end of this 3-month period.
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ADDYY Signals & Forecast
The Adidas AG stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $121.87. On a fall, the stock will find some support from the long-term average at approximately $113.40. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -3.78%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Adidas AG stock
On the downside, the stock finds support just below today's level from accumulated volume at $97.78 and $94.47. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Adidas AG finds support just below today's level at $97.78. If this is broken, then the next support from accumulated volume will be at $94.47 and $90.86.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.90 between high and low, or 1.60%. For the last week, the stock has had daily average volatility of 2.93%.
Our recommended stop-loss: $115.07 (-4.74%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (ADDYY) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Adidas AG to open at $120.24, and during the day (based on 14 day Average True Range), to move between $117.70 and $123.90, which gives a possible trading interval of +/-$3.10 (+/-2.57%) up or down from last closing price. If Adidas AG takes out the full calculated possible swing range there will be an estimated 5.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $121.59 (0.65%) than the support at $97.78 (19.06%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Adidas AG will release earnings -- on Friday, May 03, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.570. We will update the financials statements for Adidas AG, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.74% in the first trading day after earnings release.
Is Adidas AG stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Adidas AG stock to perform well in the short-term.
Current score: 2.596 Buy Candidate Unchanged
Predicted Opening Price for Adidas AG of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $120.24 ( 0.464%) | $120.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADDYY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 122.14 | 1.11 % | |
| R2 | 121.41 | 0.508 % | ||
| R1 | 120.97 | 0.137 % | ||
| Current price: | 120.80 | |||
| Support | S1 | 119.51 | -1.06 % | |
| S2 | 119.07 | -1.44 % | ||
| S3 | 118.34 | -2.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 122.29 | 1.23 % | |
| R2 | 121.72 | 0.762 % | ||
| R1 | 121.59 | 0.654 % | ||
| Current price | 120.80 | |||
| Support | S1 | 97.78 | -19.06% | |
| S2 | 94.47 | -21.80% | ||
| S3 | 90.86 | -24.78% |
ADDYY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 10, 2024 | May 17, 2024 | May 29, 2024 | $0.239 | 0.198% |
| 2 | May 12, 2023 | May 12, 2023 | May 23, 2023 | $0.386 | 0.452% |
| 3 | May 13, 2022 | May 13, 2022 | May 23, 2022 | $1.82 | 1.94% |
| 4 | May 07, 2021 | May 13, 2021 | May 25, 2021 | $1.78 | 0.96% |
| 5 | Apr 08, 2019 | May 10, 2019 | May 21, 2019 | $1.88 | 1.31% |
FAQ
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