Adidas stock price is rallying after a strong sell-off that started in January 2021. The stock has lost more than 70% of its value since that year. However, a bigger timeframe demand imbalance has taken control and is helping the German footwear and accessories stock giant to rally.
Adidas AG is a German multinational corporation, founded and headquartered in Herzogenaurach, Bavaria, that designs and manufactures shoes, clothing and accessories. It is the largest sportswear manufacturer in Europe, and the second largest in the world, after Nike and Anta sports in China.
A new weekly imbalance has been created at €105 per share. Adidas stock price could keep on rallying without pulling back to that imbalance. This is a long-term buy opportunity for Adidas. Hopefully, the stock will rally in the following months.
As supply and demand traders, we do not need to pay attention to fundamental analysis. Unless you are doing very short-term trading and scalping, you should not worry about fundamentals for stocks and ETFs.
Trading is just waiting for the right trigger points and scenarios to present themselves, this game has a name, and it’s called the waiting game. We must patiently wait for the correct scenarios and setups to happen and for the price to pull back or dip into the price levels we want to trade. These price levels are made of supply and demand imbalances in our case. You can use these imbalances to plan your trades in lower timeframes.
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