Amer Sports Surges 6.03% On Bullish Technical Breakout Near Key Resistance

Amer Sports (AS) surged 6.03% in the latest session, closing near its daily high at 38.71. Below is a technical analysis based on the one-year historical price data provided.
Candlestick Theory
Recent candlesticks reveal a volatile consolidation phase between 35.69–39.82, culminating in a robust bullish breakout candle (6.03% gain). Key support emerges at 36.83 (August 1 low), closely aligning with the daily low preceding the surge. Resistance is established at 39.82 (July 16 high), validated by repeated rejections in mid-July. The latest session’s narrow wick and high close suggest bullish conviction testing this barrier.
Moving Average Theory
The price currently trades above all key moving averages: 50-day (≈36.47), 100-day (≈33.65), and 200-day (≈28.87), confirming a sustained bullish trend. The ascending 50/100-day EMAs underscore strengthening intermediate momentum, while the golden cross (50 > 200-day in May) remains structurally intact. Short-term pullbacks are likely to find support near the 50-day EMA.
MACD & KDJ Indicators
MACD exhibits a bullish crossover, with the histogram turning positive after a period of convergence during consolidation. This signals renewed upside momentum. Meanwhile, KDJ shows the %J line sharply overbought (85.3), implying stretched near-term conditions. While MACD favors continuation, KDJ’s overbought reading warrants caution for potential consolidation before further gains. Divergence is noted here between momentum confirmation (MACD) and overbought risk (KDJ).
Bollinger Bands
Price rebounded sharply from the mid-band (20-day SMA ≈36.47), penetrating the upper band (≈38.71) with significant expansion in band width. This reflects a volatility breakout supporting the bullish move. Sustained closes above the upper band are uncommon; a reversion toward the mid-band might precede the next leg. The prior band contraction (late July) signaled the imminent directional move now underway.
Volume-Price Relationship
The breakout candle’s volume (3.11M) notably exceeds the recent average, confirming bullish participation. Elevated volume on major up days (June 27: 10.4M, May 20: 19.8M) consistently validated prior uptrends. Conversely, declining volume accompanied July’s pullback, suggesting lackluster selling pressure. Current volume-backed strength enhances sustainability odds.
Relative Strength Index (RSI)
RSI (14-period) rises to 63.7, exiting the neutral zone but not yet overbought (>70). This reflects strengthening momentum without immediate exhaustion signals. Notably, RSI held above 30 during recent dips, avoiding oversold conditions and preserving bullish structure. The indicator suggests room for further upside before overbought risks materialize, though KDJ divergence merits monitoring.
Fibonacci Retracement
Applying Fib levels to the rise from June low (32.16) to July high (39.82) reveals critical support zones. The 38.2% retracement (36.83) aligns perfectly with the August 1 swing low, underscoring its technical significance. The 50% level (36.00) serves as secondary support. These confluences strengthen the case for 36.83 as a pivotal floor. A decisive break above 39.82 targets 41.50 (127.2% extension).
Conclusion
Amer Sports displays bullish technical structure, reinforced by multiple confluence points: volume-backed breakout, alignment with key MAs, MACD crossover, and Fibonacci support validation. Near-term caution stems from KDJ overbought conditions and proximity to major resistance at 39.82. Sustained trade above 36.83 maintains upside bias, targeting 39.82–41.50. Failure to hold 36.83 may trigger a retest of the 50-day EMA/36.00 Fib zone, though current momentum favors breakout continuation after potential consolidation.