Boohoo is UK fashion retailer worth around £580 million. Company is quite popular among group of 15-30 year old's, offering cheap clothes when people all looking for ways to save money.
Business actually boomed thanks to 2008 crunch and a successful IPO getting from 21.4 per share in 2015 to 273.7 in 2017. Found support above 140. Now an uptrend recently shows price getting higher with buyers a little stronger than sellers. Yet resistance at 250 and fib level 78.6% very strong.
Seems like a double top now with divergence, potential to short with great risk-reward. A long would only be considered if we close above 250.
Good Luck!
Business actually boomed thanks to 2008 crunch and a successful IPO getting from 21.4 per share in 2015 to 273.7 in 2017. Found support above 140. Now an uptrend recently shows price getting higher with buyers a little stronger than sellers. Yet resistance at 250 and fib level 78.6% very strong.
Seems like a double top now with divergence, potential to short with great risk-reward. A long would only be considered if we close above 250.
Good Luck!