Adidas shares are seeing another surge.

Shares of sportswear company Adidas rose today, rising 3.4% as the stock price rose to $216 per share yesterday.

This surge comes after a trade agreement between the United States and China was reached,

which calls for a reduction in tariffs. The United States reduced

tariffs on Chinese imports to 30%.

China also reduced tariffs on American imports to 10%,

after temporarily suspending tariffs for 90 days.

It is worth noting that the United States had previously raised tariffs on China,

to 145%, and China had retaliated against the tariffs

imposed by the Trump administration, raising tariffs to 125%.

Technically:

Adidas stock is currently trading in daily supply zones at $216.

If the stock closes above $224, it is expected to continue its upward trend, reaching $240 and $254, respectively.

These latter levels are resistance areas from which we may see some corrections.