Adidas seems to have found some bottom after the shoulder-head-shoulder top formation downside target at around 53 was reached. Meanwhile the price has nicely reversed in form of a double/triple bottom formation and the massive gap is being closed as well. If ADS can finally breach the upper line of the gap (>70), it suggests of a price target of at least EUR 79.00.
Momentum confirms the current (new) highs and we only wait for the gap resistance line breach and high volume to confirm the break-out!