Trends and Targets for 8/11/2018

#Boohoo.com #CAC40 #NK225 It was to take extraordinary effort not to review this at Halloween! However, the price has not been making scary movements, perhaps quite the contrary despite some near term reversal risks.

Last time we reviewed this, the price was expected to reach 242p as an initial upward target. The price not only achieved this at the start of October, it also closed slightly above. In doing so, the downtrend since 2017 was also rather neatly confirmed.

At present, the share is lurking with weakness now below 202p suggesting some relaxation toward 176p. While this does represent quite a severe reversal, it allows the price to remain within the uptrend since 2016 and in doing so, permits a future upward cycle next time the price betters 246p.

Any bounce exceeding 246 suggests some growth coming to 260p next, a probably short lived stutter, then future growth to 291p. While we are taking considerable hope our prior 242 target was exceeded, rather often it is the case of such a movement promising good times ahead.

Below 176p would, however, be quite bad!

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