#FTSE #Nasdaq Once again #Boohoo are one of these shares where we managed make it seem we could see the future! Our outlook last November (link) gave criteria for a solid bounce from 150p. At the time, it was trading around 260p and our worst fear, a GaGa movement actually did appear. From March 9th, the shares doom was set and in a plunge of insanity, it hit 133p on March 18th, closing the day “safely” above 150p.
Obviously, we lack a crystal ball which foretold of Covid-19 and unlike a certain Govt advisor, we don’t revisit anything previously written and change it, just to suit reality. In this instance, it’s worth taking a look at what we wrote earlier as from our perspective, the drop was simply a matter of necessary arithmetic, once the criteria had been met. The deadly GaGa movement (Gap Up, Gap Down) in the share price tended make it inevitable and now, we’re seriously impressed with the strength of rebound being experienced.
As an online retailer, Boohoo appear well placed to enjoy some strong future results as we move into a world which shall doubtless start to find itself repulsed at the thought of browsing through clothing racks. One simply does not know if a politician, a govt advisor, or a Coronavirus carrier handled the product previously! The situation Boohoo now finds itself in suggests share strength above 399p should bring travel up to an initial 430p with secondary, if bettered, at a longer term 520p.
In the event the share price manages exceed 520p, we’ve a problem as we currently cannot calculate any higher. Should such a price level appear, doubtless someone shall email to ask us to again “run the numbers” against the share.
Finally, we’ve a fascinating little morsel to mention regarding this. For some reason our software suggests once above 406p, future rises shall prove difficult to restrain. Also, in terms of problems, the price needs retreat below Red on the chart, presently 205p, to justify concern, if not flat panic!
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:12:06PM | BRENT | 39.67 | ‘cess | ||||||||
| 10:14:11PM | GOLD | 1728.45 | ‘cess | ||||||||
| 10:30:29PM | FTSE | 6239 | 6168 | 6138.5 | 6104 | 6208 | 6242 | 6266.5 | 6344 | 6196 | ‘cess |
| 10:32:40PM | FRANCE | 4879.8 | Success | ||||||||
| 10:34:20PM | GERMANY | 12088 | ‘cess | ||||||||
| 10:36:49PM | US500 | 3081.87 | Success | ||||||||
| 10:38:41PM | DOW | 25730 | Success | ||||||||
| 10:40:28PM | NASDAQ | 9662.42 | 9508 | 9464 | 9394 | 9615 | 9667 | 9679 | 9736 | 9590 | ‘cess |
| 10:44:33PM | JAPAN | 22619 | Success |
2/06/2020 FTSE Closed at 6220 points. Change of 0.88%. Total value traded through LSE was: £ 6,492,491,444 a change of 37.82%
1/06/2020 FTSE Closed at 6166 points. Change of 1.48%. Total value traded through LSE was: £ 4,710,780,672 a change of -60.33%
29/05/2020 FTSE Closed at 6076 points. Change of -2.28%. Total value traded through LSE was: £ 11,874,374,361 a change of 71.67%
28/05/2020 FTSE Closed at 6218 points. Change of 1.2%. Total value traded through LSE was: £ 6,916,892,220 a change of -17.92%
27/05/2020 FTSE Closed at 6144 points. Change of 1.27%. Total value traded through LSE was: £ 8,427,394,585 a change of 29.04%
26/05/2020 FTSE Closed at 6067 points. Change of 1.23%. Total value traded through LSE was: £ 6,530,822,409 a change of 28.08%
22/05/2020 FTSE Closed at 5993 points. Change of -100%. Total value traded through LSE was: £ 5,099,177,715 a change of 0%