Anta Sports: Turning Point Reached 🛑

The bears dominated Anta Sports' price action last week, causing further sell-offs. Given this development, we do not consider the magenta wave (x) to be over yet and give it some room to fall. However, the price should not fall too much further and especially not below the support level of HK$67.85. Above this level, the low should be reached and the bullish move in the form of the magenta-colored wave (y) should resume. On the other hand, a break below this level would trigger our alternative scenario, to which we assign a fairly high probability of 44%, which would entail a direct completion of the green wave (2).