Amer Sports Rises 1.45% Amid Bullish Technical Signals And $38.50 Resistance Test

Amer Sports (AS) rose 1.45% in the most recent session, closing at $37.85 after trading between $37.35 and $37.95. This price action occurs within the context of a broader technical landscape, which we analyze using multiple methodologies.
Candlestick Theory
Recent candlestick patterns show a near-doji formation on June 26th, indicating indecision after a 1.92% rally on June 23rd. Key support emerges at $35.98 (June 23rd low), aligning with the psychological $36 level. Resistance is firm at $38.50 (May 27th peak), which has capped multiple advance attempts including June 24th's reversal candle with a long upper wick. The $37.95–$38.49 zone has rejected price three times in June, establishing a significant supply area.
Moving Average Theory
The 50-day MA (approximately $34.80) maintains an upward slope above the 100-day MA (~$31.50) and 200-day MA (~$25.40), confirming a sustained bullish trend. Price consolidation above the rising 50-day MA since late May demonstrates robust support. The ascending order of MAs (50 > 100 > 200) signals strong intermediate-term momentum, though the proximity to the 50-day MA warrants monitoring for potential mean reversion.
MACD & KDJ Indicators
MACD shows a bullish crossover emerging near the zero line, suggesting renewed upside momentum. However, KDJ presents a conflicting signal with the %K line (78) crossing below %D (82) in overbought territory, indicating near-term exhaustion. This divergence merits caution—while MACD supports continuation of the broader uptrend, KDJ warns of a potential pullback within the rising channel.
Bollinger Bands
Bands contracted notably in late June (20-day width narrowing to ~5%), preceding the current breakout above the $37.35 midpoint band. Price now tests the upper band ($38.20), with band expansion supporting bullish momentum. The mid-band ($36.80) now serves as dynamic support. Continued upper-band tagging without closure below it would affirm bullish control.
Volume-Price Relationship
The June 20th surge on 4.2M shares (152% above 30-day average) validated the breakout above $36. Subsequent advances lack equivalent volume conviction—the June 26th gain occurred on below-average volume (2.8M vs. 3.4M avg), questioning sustainability. Supportive volume on downswings (e.g., June 17th's 3.1M shares during a -2.86% drop) indicates accumulation, but new highs require volume expansion to confirm legitimacy.
Relative Strength Index (RSI)
The 14-day RSI (64) remains neutral but exhibits bearish divergence—price registered higher highs in late May/early June while RSI formed lower highs. This warning signal suggests weakening momentum despite nominal overbought avoidance. A break above 70 would indicate strengthening upside potential, while failure to hold 50 could foreshadow a deeper correction.
Fibonacci Retracement
Applying Fib levels to the dominant uptrend from $13.10 (June 2024 low) to $38.50 (May 2025 high) shows critical confluences. The 23.6% retracement ($32.80) aligns with the 100-day MA and May 19th swing low. The 38.2% level ($29.90) coincides with the 200-day MA and April consolidation zone. Current price action holds above the 23.6% support, maintaining the bullish structure. A close below $36.00 (near the 11.8% retracement) would violate this framework.
Confluence and Divergence Observations
Strong confluence appears at $36.00–$36.50, combining Bollinger mid-band, 50-day MA, and horizontal support. This zone must hold to preserve bullish momentum. Notable divergences exist between momentum oscillators (KDJ bearish crossover vs. MACD bullish crossover) and volume/price action. The RSI divergence and contracting volume on rallies warrant vigilance for a retest of $36 support despite the overall uptrend. Probabilistically, the weight of evidence slightly favors continuation patterns within the broader bull trend, but traders should monitor these warning signs for potential trend degradation.