Amer Sports Extends Losses to 7.36% Amid Bearish Technical Signals

Amer Sports (AS) experienced a 3.28% decline in its most recent session, extending its losing streak to three consecutive days with a cumulative 7.36% drop. This bearish momentum culminated in a session low of $36.32 before closing at $38.03, suggesting ongoing selling pressure.
Candlestick Theory
Recent price action reveals a bearish "three black crows" pattern formed over the last three sessions, characterized by progressively lower closes and extended lower wicks. This signals strong selling momentum. Key resistance now stands at $40.91 (August 28 high), while immediate support emerges near $36.32 (September 2 low). A breach below $36.32 may trigger further downside toward the $35 psychological level.
Moving Average Theory
The 50-day MA ($36.80) crossed below the 100-day MA ($37.20) in late August, confirming an intermediate bearish bias. Meanwhile, the 200-day MA ($29.50) maintains a positive long-term slope, but the current price ($38.03) trading below the 50/100-day MAs reinforces short-term bearishness. A sustained break below the 200-day MA remains improbable without accelerated selling.
MACD & KDJ Indicators
MACD exhibits a bearish configuration with the signal line hovering above the MACD line since mid-August, though histogram divergence is absent. KDJ’s K-line (28) and D-line (35) recently exited oversold territory but failed to surpass 50, reflecting weak momentum recovery. Neither oscillator currently signals a robust reversal catalyst.
Bollinger Bands
Bollinger Bands contracted sharply in late August, preceding the recent breakdown below the 20-day moving average ($39.10). Price now trades near the lower band ($36.50), with bandwidth expansion supporting continued volatility. A close below the lower band may indicate oversold conditions, but volatility-driven traps remain a risk.
Volume-Price Relationship
The three-day decline occurred on elevated volume (average 3.7M shares vs. 3M monthly average), validating bearish conviction. Notably, the August 22 rally (+11.51%) featured the year’s highest volume (9.37M shares), establishing $41.56 as formidable resistance. Current volume patterns lack accumulation signals, undermining rebound prospects.
Relative Strength Index (RSI)
The 14-day RSI (44) resides in neutral territory after bouncing from oversold levels (<30) in late August. This recovery lacked corresponding price strength, creating hidden bearish divergence. While RSI avoids oversold extremes, its failure to breach 50 during relief rallies signals underlying weakness.
Fibonacci Retracement
Using the swing low of $13.73 (September 10, 2024) and high of $42.36 (August 25, 2025), key retracement levels include $32.52 (23.6%), $28.18 (38.2%), and $24.83 (50%). Current price hovers near the 23.6% level ($32.52), with a sustained break below potentially targeting $28.18. Confluence exists between the 38.2% retracement and the 200-day MA ($29.50), strengthening this support zone.
Confluence and Divergence Observations
Confluence appears at the $28–$29 support region, where Fibonacci’s 38.2% retracement, the 200-day MA, and the May 2025 consolidation peak align. Divergence is noted in RSI, which recovered from oversold territory without corresponding price strength, suggesting bearish momentum persistence. Volume patterns and moving averages unanimously reinforce near-term downside risks, though oversold Bollinger conditions and long-term trend resilience introduce potential stabilization near $36–$37.