Amer Sports Stock Jumps 4.3% to $39.08 as Technicals Signal Bullish Momentum

Amer Sports (AS) shares surged 4.32% in the latest session, extending gains to 6.57% over two consecutive trading days and closing at $39.08. This bullish momentum occurs within a broader technical context that warrants multi-framework analysis.
Candlestick Theory
Recent price action shows a bullish engulfing pattern emerging near the $37.09 support level, with today's long green candle closing near the session high of $39.2. This suggests strong buying conviction. Key resistance remains at the $39.59 swing high (2025-08-07), while immediate support holds at $37.76 (today's low). A confirmed break above $39.59 would signal continuation of the uptrend.
Moving Average Theory
The 50-day MA ($36.85), 100-day MA ($34.20), and 200-day MA ($29.50) maintain a bullish ascending order. Price currently trades 6% above the 50-day MA, confirming near-term strength. Golden crosses persist between all three averages, with the 50-day/200-day spread widening – a hallmark of sustained bullish momentum. However, the growing distance from the 50-day MA suggests potential mean-reversion risk.
MACD & KDJ Indicators
MACD (12,26,9) shows a bullish crossover emerging above the signal line, with histogram bars turning positive for the first time in three weeks. Meanwhile, the KDJ oscillator registers an overbought condition with the K-line (88) crossing above the D-line (82) in >80 territory. This confluence indicates strong upside momentum, though the KDJ's overbought reading warrants caution for near-term exhaustion.
Bollinger Bands
Price has pierced the upper Bollinger Band ($38.80) amid widening band separation, signaling accelerating volatility and breakout potential. This follows a multi-session contraction phase that typically precedes directional moves. Sustained trading above the upper band historically precedes extended trends in this security, though such deviations often invite technical pullbacks.
Volume-Price Relationship
Today's 4.66M volume notably exceeds the 20-day average (3.92M), validating the bullish breakout. Volume expanded 39% during the two-day rally versus the prior two sessions, confirming institutional participation. The volume-weighted average price (VWAP) for the period sits at $38.21 – below current price – suggesting constructive technical positioning.
Relative Strength Index (RSI)
The 14-day RSI (72) has entered overbought territory, having climbed 25 points during the two-day rally. While this signals strong momentum, RSI readings above 70 have preceded five notable pullbacks in the past year. Bearish divergence isn't currently evident as RSI aligns with new price highs. Traders should monitor whether RSI sustains above 70 – historically a warning sign when maintained beyond three sessions.
Fibonacci Retracement
Applying Fibonacci to the April-August rally ($20.96-$39.20) reveals critical levels: 38.2% retracement at $32.38 and 23.6% at $34.76. The current price remains well above these supports, with the $37.09 recent low aligning closely with the 11.8% retracement zone. This consolidation near shallow retracement levels suggests underlying strength. A breakdown below $34.76 would violate the bullish structure.
Confluence and Divergence
Strong confluence exists at $37.76-$38.00 (today's low + 50-day MA + Bollinger mid-band), making this a high-probability support zone. MACD/volume/KDJ alignment confirms bullish momentum, though RSI divergence remains absent. Notable tension exists between Bollinger Band expansion (bullish) and RSI overbought readings (cautionary) – a dichotomy suggesting potential near-term consolidation before directional resolution.