Possible Reversal on Boo Hoo stock (UK)
Be-careful as it is an AIM share (tad risky)
- Ideally, for this stock to go higher, it would require a great earnings report or some other fundamental news to attract more investment into it, thus raising the price.
- No, I have no positions on this stock
As for the return to 167, this is simply a prediction on my part - I assume the stock would create a local high, consolidate, and then revisit the new resistance created to either test or surpass it. (Look at RSI Chart text)
I was asked for an exit strategy for this stock while my friend was in a losing position, I told him to ditch the stock and take a loss if it declined past £1.40 per share of Boo-Hoo stock.
Interim results due in June (12th I believe) which will be a big decider.
To put him at ease I would mention that this include the effect of the heatwaves recently, the positive report recently from Next, and also the Beast from the East sales which happened mostly around Boohoo year end, but I think predominantly afterwards.