Adidas: Corrective Top Establishedadidas AGXETR_DLY:ADSHKCM_GlobalAdidas shares have recently dropped more than 10%, accompanied by a downside price gap. In recent trading days, the stock managed a partial recovery, though renewed weakness has emerged in the latest sessions. Based on this price action, we now consider the corrective top below resistance at €196.40 to be established. As a result, we currently see ADS in a corrective phase and expect a corrective move to the downside, likely taking the stock below support at €129.95. Just below this level, shares should find a low and then begin another upward move. Alternatively, Adidas shares could continue their upward move directly, without further interim correction, and break through resistance at €196.40 (probability: 36%).