ADIDAS in ascending triangle

25 Şub 2017From the top in January 2014 (€ 93) and the bottom in October 2014 (€ 53) ADIDAS has been in a major uptrend which extended to the 2.618 fibonacci projection level (€ 160). The rising support line forms an ascending triangle together with the flat resistance line at the top. A breakout from the ascending triangle should lead to a major move in either direction. A downward breakout leads to a minimum price target of € 118 (the 1.618 fibonacci level).