#Gold #SP500 Online retailer Boohoo remain a puzzle, thanks to the share price being pretty boring. News the company bought Wallis, Burton, and Perkins, failed to really catch the markets attention, the exercise obviously being an effort to purchase brand names and associated ‘High St’ customer loyalty. Our surprise at the lack of flamboyant price activity comes from other online retailers enjoying some quite strong performance.
We’ve established 380p as a trigger level for the future, one we feel worth watching for. Movement above 380p looks capable of fairly confidently producing traffic in the direction of 450p. The represents a new all time high for the share price and we’ve a sneaking suspicion some hesitation shall make itself known at such a point. Only with closure above 450p do things become truly exciting as our secondary is at 524p. In fact, long term we can even calculate a third ambition up at 585p.
This lack of flamboyance is nagging a bit but if we opt to search for trouble spots, the share price requires unzip below 275p to hint at things getting nasty, allowing reversal to commence to an initial 248p with secondary a bottom (hopefully) at 205p and ideally a rebound.
While the loss of around 2,500 jobs is an obvious problem, further confirmation of future problems for commercial landlords – both for High St and Shopping Mall locations – continue to make themselves clear. It’s likely the online side effect of Covid-19 shall forever herald a change in buying habits.
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
8/02/2021 FTSE Closed at 6523 points. Change of 0.43%. Total value traded through LSE was: £ 5,203,801,333 a change of -25.46%
5/02/2021 FTSE Closed at 6495 points. Change of -0.12%. Total value traded through LSE was: £ 6,981,544,293 a change of 30.51%
4/02/2021 FTSE Closed at 6503 points. Change of -0.06%. Total value traded through LSE was: £ 5,349,556,442 a change of 1.88%
3/02/2021 FTSE Closed at 6507 points. Change of -0.14%. Total value traded through LSE was: £ 5,250,745,013 a change of -4.46%
2/02/2021 FTSE Closed at 6516 points. Change of 0.77%. Total value traded through LSE was: £ 5,495,808,707 a change of -1.14%
1/02/2021 FTSE Closed at 6466 points. Change of 0.92%. Total value traded through LSE was: £ 5,559,234,674 a change of -18.33%
29/01/2021 FTSE Closed at 6407 points. Change of -1.82%. Total value traded through LSE was: £ 6,807,283,964 a change of 10.19%
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