Following a strong year-to-date rebound, the share price of DAX-listed Sportswear and leisurewear giant Adidas may be vulnerable to a lapse of support as it re-tests it’s breakdown level as well as the overhead resistance going back to it’s all-time high peak of €218 on 28 August 2018. At it’s last close of €207.07, the price is starting to roll over from overbought territory, while the momentum indicator signals the commencement of a short term bearish trend.At current levels, traders could look to short sell the share in anticipation of a move lower.
Trade Levels:
Short/Sell Adidas at current levels: 201.70
Stop-loss: €206.00
Take Profit Target: €188
Trade Levels:
Short/Sell Adidas at current levels: 201.70
Stop-loss: €206.00
Take Profit Target: €188