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ASOS forms a bearish ascending wedge
That's bearish, although ASOS is still in an uptrend
Asos LSE:ASC breaks through previous high after bouncing off the 50 simple moving average.
See previous analysis https://uk.tradingview.com/chart/ASC/n6Hnlb6Z-Can-ASOS-break-the-all-time-high/
This breakout helps us to confirm the buyers are in control for now but will things stay that way.
Underneath price we have the 50 moving average which has proven time ...
Asos LSE:ASC looked like it was failing to stay above the previous resistance level
but price has started to show resilience again. This is thanks to the daily 50 moving average which it has used twice this year as support.
Price is also above the weekly 50 and 200 moving averages so the overall trend is up.
The high of the 27th February is the point that will ...
I think the Bearish candle of w/e 08/09 suggests further slumping of ASOS until w/e 15/09 where the middle-line of the Andrew's Pitchfork trend should be tapped; I suggest climbing aboard w/c 18/09 and pending the outcome of the following reports (see below) Q2 2018 results should have proved a nice investment, jumping out w/e 25/05 or w/c 28/05 is ...