Boohoo for 7/11/2019

#DAX #SP500 Sometimes, we review an article and wonder just why did we bother? Our last glance at Boohoo, full of logical doom, finished with just 22 words dealing with the upside. Needless to say, the prior 300 word report could be ignored as it successfully triggered and completed an upward cycle.

This time around, we’re again a little pessimistic about Boohoo but, from a big picture perspective, also fairly confident. It begs the question; is a buy opportunity about to present itself? The immediate situation suggests weakness below 257 should lead to an initial 237p. If broken, secondary calculates at 222p and at this point (roughly) life becomes dangerous. There’s a very real risk, if the price shuffles below 222p, of travel down to 150p commencing. While it’s a heck of a drop, historically there’s ample reason to hope for a bounce if such a level makes an appearance.

Our hope is travel to 237p shall be “it” with a rebound to follow from such a level.

The reason for optimism is fairly simple. We’d previously given an upper target of 251p, something the share price has managed to better. As a result, despite expecting the price to reverse to 237p, it’s already viewed as being on a track which leads to an initial 294p with secondary 344p. All we’re attempting to do is plot the potential path!

One thing we need warn about. Any movement by the market which gaps the share price down to 237p shall make the concept of growth difficult to promote. This will create one of our terrifying GaGa Gap Up/Down routines, a movement by the market which normally will suggest proper reversal.

For this reason, we’ve highlighted our bottom number at 150p, this being the calculation if a GaGa does take place.

FUTURES
Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
9:53:44PM BRENT 61.63                 ‘cess
9:55:38PM GOLD 1490.41                 ‘cess
9:59:06PM FTSE 7403.55                 Shambles
10:05:00PM FRANCE 5862.2                 ‘cess
10:16:33PM GERMANY 13183 13100 13057 13006 13175 13209 13293 13374 13100 Success
10:18:37PM US500 3078.42 3072 3062.5 3054 3087 3087 3093.5 3103 3071 ‘cess
10:33:04PM DOW 27480.1                
10:36:24PM NASDAQ 8205                 ‘cess
10:37:51PM JAPAN 23317                

 

 

6/11/2019 FTSE Closed at 7396 points. Change of 0.11%. Total value traded through LSE was: £ 4,739,678,595 a change of -23.11%

5/11/2019 FTSE Closed at 7388 points. Change of 0.26%. Total value traded through LSE was: £ 6,164,114,046 a change of 25.79%

4/11/2019 FTSE Closed at 7369 points. Change of 0.92%. Total value traded through LSE was: £ 4,900,286,853 a change of -8.27%

1/11/2019 FTSE Closed at 7302 points. Change of 0.75%. Total value traded through LSE was: £ 5,342,127,869 a change of -12.99%

31/10/2019 FTSE Closed at 7248 points. Change of -1.12%. Total value traded through LSE was: £ 6,139,753,782 a change of 11.95%

30/10/2019 FTSE Closed at 7330 points. Change of 0.33%. Total value traded through LSE was: £ 5,484,235,986 a change of 6.15%

29/10/2019 FTSE Closed at 7306 points. Change of -0.34%. Total value traded through LSE was: £ 5,166,736,018 a change of 9.98%

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