Adidas - Daily - Will the trendline hold?

Trade Alert

Something to keep an eye on for the time being.

The stock is not far from its upwards moving trendline, drawn from the 10th of November 2016, which could act as a nice bouncing ground again. If that's the case, then we could see the stock attempting the 187.10 zone again, a break of which could lead towards the 193.05 area.

If the aforementioned trendline eventually breaks, then this could lead to a drop in the price to the 171.55 area and maybe further declines are possible.

Don't forget your stops.