Boohoo Group Plc shares (LSE:BOO) are currently bullish, having attained the bullishness since July 2020, and having plummeted prior to that time. As from July, price has moved upwards seriously.
4 EMAs are used for this analysis and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the top left part of the chart. All the EMAs are trending upwards, although the last pullback day looks like a threat. In reality it is just an opportunity for bulls to enter the market at a cheaper price.
Unless price remains below the EMA 200 until the end of September 2020, the outlook on this market will remain bullish. Overall, price will recover gradually and go above, even the EMA 10, as it moves further upwards. The first target is the distribution territory at 400 – something that BOO could even breach to the upside.
Trading realities: Trading realities
CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).
This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.
Hot Features
Premium
Level up your trading with our powerful tools and real-time insights all in one place.
