Adidas is one of the biggest losers in DAX® this year. Reason: The Franks had to revise their targets for the current fiscal year. The sporting goods manufacturer was able to exceed experts’ expectations in the first quarter thanks to strong business in the US. However, blockades began in many cities and neighborhoods in China in mid-March. Big cities like Shanghai and Beijing have suffered. Adidas generates about 20 percent of its sales in China, and data for the first quarter of 2022 is already showing a significant decline compared to the same period last year. An even greater decline is expected in the second quarter.
However, at the beginning of the week in China, the first easing of the coronation measures was announced. In addition, there is an opportunity for economic incentives to stimulate consumption. Adidas could benefit greatly from this and be positively reflected in the figures for the second half of the year. As of early March 2022, Reebock is also no longer part of the Adidas family. This eliminates the main stress factor. Developments in China still determine Adidas stock price. According to Thomson Reuters, many analysts remain optimistic in the medium term, pointing to a strong market position and strong growth opportunities in the internet sector. However, further failures cannot be ruled out.
Chart technical perspective: Adidas
Resistance levels: 186.90 / 195.60 / 199.00 / 218.00 EUR
Support tokens: € 171.75 / € 183.70
Adidas shares have been in a downward trend since early November 2021, and have even accelerated since February 2022. DAX® shares have stabilized at around EUR 171.75 and have been on the recovery course for several days. Adidas stocks are currently trading between the support level at EUR 183.70 and the downtrend at EUR 186.90. In the event of a breakthrough from February 2022, there is a chance for a rebound to EUR 195.60 (downward trend line), and then to EUR 199.
Adidas in EUR; Daily chart (1 candle = 1 day)
Period of observation: January 25, 2021 – May 31, 2022. Historical observations are not reliable indicators of future events Source: tradingdesk.onemarkets.de
Adidas in EUR; Weekly chart (1 candle = 1 week)
Period of observation: 01/06/2017 – 31/05/2022. Historical observations are not reliable indicators of future events. Source: onemarkets.tradingdesk.de
Bonus limit on Adidas shares
|Essential||WKN||Sale price in EUR||Barrier in EUR||Cap (upper price limit in EUR||date of the last valuation|
Source: HypoVereinsbank onemarkets; Status: May 31, 2022; 12:15 pm
Cap bond with 90% minimum Adidas stock repayment
|Essential||WKN||Issue price||maximum repayment amount in EUR||final Valuation day|
|Adidas||HVB6QR *||101% **||1,350.00||07/06/2027|
* Subscription period until June 9, 2022 (early closing possible); ** nominal amount; Source: HypoVereinsbank onemarkets; As of May 31, 2022 12:15 PM
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Adidas cartridge – ready to jump! it first appeared on the onemarkets blog (HypoVereinsbank – UniCredit Bank AG).
Author: Richard Pathenhauer