Adidas News Forecast And Technical Analysis

sticking to World Cup sales outlook despite Germany’s exit

German sportswear maker Adidas (ETR: ADSGN) Is sticking to its World Cup sales outlook of around 400 million euros ($420.92 million) despite Germany’s exit from the tournament, a company spokesperson said on Friday.

ADIDAS TECHNICAL ANALYSIS Daily Chart:

In the daily chart, Adidas currently has started trading in the up channel. Adidas is currently trading above 5 & 20 SMA.

RSI is in Buying zone which shows bullishness. And stochastic is suggesting up trend.

Adidas’ immediate support level is at 122.50 & resistance level is at 127.56

HOW TO TRADE IN THIS WEEK

Adidas is trading in the up channel it and will follow the up channel until any trend reversal. So, remain bullish on it.

TRADE SUGGESTION: BUY AT 127.56, TARGET AT 136.81, SL AT 120.99