adidas AG Stock Forecast

Red day on Monday for adidas AG stock after losing 0.356%
(Updated on Apr 22, 2024)

ADS.F Signals & Forecast

The adidas AG stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 213.97€ and 201.31€. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, April 18, 2024, and so far it has fallen -0.93%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Thursday, February 15, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for adidas AG stock

On the downside, the stock finds support just below today's level from accumulated volume at 205.00€ and 200.15€. 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 205.00€. If this is broken, then the next support from accumulated volume will be at 200.15€ and 172.46€.

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 4.90€ between high and low, or 2.20%. For the last week, the stock has had daily average volatility of 2.88%.

Our recommended stop-loss: 215.04€ (-3.91%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (ADS.F) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect adidas AG to open at 224.63€, and during the day (based on 14 day Average True Range), to move between 217.82€ and 229.78€, which gives a possible trading interval of +/-5.98€ (+/-2.67%) up or down from last closing price. If adidas AG takes out the full calculated possible swing range there will be an estimated 5.35% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 224.60€ (0.36%) than the support at 205.00€ (8.40%), 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.

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: 4.126 Buy Candidate Unchanged

Predicted Opening Price for adidas AG of Tuesday, April 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.