Amer Sports Rises 2.08% to $38.71 as Bullish Technicals Signal Upside Potential

Amer Sports (AS) concluded the latest trading session with a 2.08% gain, closing at $38.71. This upward movement formed a bullish candlestick following a volatile period, positioning the stock for critical technical evaluation across multiple indicators.
Candlestick Theory
Recent sessions reveal a Bullish Engulfing pattern on August 13–15, where a sharp decline to $37.49 was followed by a recovery closing near the session high at $38.71. This reversal signal coincides with a key support zone between $36.51 (August 11 low) and $35.69 (July 31 low). Resistance is established at $39.20–$40.21, aligning with the June peak. The pattern suggests underlying buyer interest near the $37.50–$36.50 support band.
Moving Average Theory
The 50-day moving average (MA) near $37.50 converges with the 100-day MA at approximately $36.80, creating dynamic support beneath the current price. The 200-day MA near $30.00 confirms a long-term uptrend, as the price remains above all major averages. This configuration—with shorter MAs above longer ones—supports a bullish intermediate bias, though sustained trade above the 50-day MA is needed for conviction.
MACD & KDJ Indicators
MACD shows a bullish crossover, with its histogram transitioning into positive territory, signaling growing upward momentum. KDJ readings are neutral to bullish, with the %K line near 65 and %D at 58—both below overbought thresholds. This alignment suggests potential for further upside. However, should KDJ’s %K retreat below %D, it may indicate near-term exhaustion.
Bollinger Bands
Volatility has contracted following the bands’ expansion during July’s $40.21–$35.69 swing. The current price hovers near the upper band ($39.00), reflecting bullish pressure. A close above $39.20 would signal breakout potential, while a rejection here might trigger consolidation within the $38.50–$37.50 range.
Volume-Price Relationship
Volume patterns reveal divergence: the August 13 rally to $39.08 occurred on elevated volume (4.67M shares), confirming bullish intent, but the subsequent rebound on August 15 saw reduced participation (3.49M shares). This divergence suggests caution toward sustainability. Major accumulation occurred at the $35.69–$36.50 support zone, reinforcing its technical significance.
Relative Strength Index (RSI)
The 14-day RSI holds near 60, in neutral territory and lacking overbought pressure. This positioning allows room for additional gains, though a surge above 70 would warrant caution. The RSI’s steady climb from oversold levels in late July validates the recovery but remains a secondary signal without extremes.
Fibonacci Retracement
Applying Fib levels to the June 30 high ($40.21) and July 31 low ($35.69) shows the price trading above the 38.2% retracement ($38.48) and the 50% level ($37.95). This strength suggests buyers are dominating the correction phase. Confluence exists between the 23.6% retracement ($39.07) and the $39.20–$40.21 resistance zone, making this area critical for bullish continuation.
Confluence and Divergence Observations
Notable confluence exists at $37.50–$36.50, where the 100-day MA, volume-supported support, and Fibonacci 61.8% level ($37.42) converge. A breakdown here would shift the bias bearish. Bullish confirmation requires a decisive close above $39.20, supported by volume expansion. The primary divergence lies between price recovery and weakening volume, warranting vigilance for false breakouts. Overall, Amer Sports exhibits constructive technical positioning, with momentum oscillators and moving averages supporting upside potential if key resistance is overcome.