Boohoo Group Plc LSE:BOO doing Halloween early!

#Brent #DOW

With Halloween just about upon us, it appears apt the company who like to say “Boo” are scaring the pants off traders, their share price taking part in a ruthless quest to discover a bottom. Given the company share price value has reduced by 75% since the start of this year, there’s certainly quite a lot to find frightening.

The online clothing retailer recently reported a 10% fall in revenues for the last 6 months and warned they expect annual sales to be down by a similar amount. Taking the blame for the reduction in revenue has been the “cost of living” crisis as no-one could have forecast increasing prices would lead to a reduction in sales. Couple this with a (long overdue) policy of now charging customers £1.99 for returning unwanted items, and the salient detail people are now free to visit shops, it becomes inevitable Boohoo would be given a good reason to cry.

 

In normal circumstances, we’d be quite enthusiastic for the immediate future, due to share price movements on the 28th September. Unfortunately, the price was initially gapped downward at the open, then spiked downward to 30p. The forced downward movement was thus spoiled as, while a downward spike in the opening second will often presage a surprise rise in price, the fact the price was firstly gapped downward confuses the issue.

Our inclination is to step back and simply quote from our Big Picture arguments. Allegedly, weakness continuing below 30 should trigger further reversal to an initial 25p with secondary, if broken, down at 15p and an “ultimate” bottom, this being a price level we cannot calculate below. From the Big Picture perspective, the price almost must bounce before the 15p level is attained, if ever.

However, if we pretend the manipulation gap didn’t happen, some optimism is permitted. Above 41p should now trigger gains in the direction of an initial 47p with secondary, if bettered, at 62p. Visually, it looks like a glass ceiling awaits around the 62p price level, due to historical movements. During July and August, the market decided this to be a “shall not pass” level and doubtless traders surfing a current rise shall assume the same set of rules will apply, selling pressure creating a self fulfilling prophecy.

 

We do suspect Boohoo are about to enact a “surprise” slight recovery and believe it should be worth watching in the days ahead.

 

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
9:19:16PM BRENT 88.01 84.83 83.74 82.21 85.4 88.33 88.57 90.59 85.3
9:42:52PM GOLD 1659
9:45:06PM FTSE 7040 Success
9:47:15PM STOX50 3361 Success
10:29:38PM GERMANY 12288.88 Success
10:31:43PM US500 3716 Success
10:34:46PM DOW 29673 29107 28812 28473 29362 29835 30100 30527 29548 Shambles
10:37:10PM NASDAQ 11483 Success
10:39:09PM JAPAN 26681 Success

 

28/09/2022 FTSE Closed at 7005 points. Change of 0.3%. Total value traded through LSE was: £ 8,154,391,132 a change of 17.78%
27/09/2022 FTSE Closed at 6984 points. Change of -0.51%. Total value traded through LSE was: £ 6,923,595,633 a change of 5.34%
26/09/2022 FTSE Closed at 7020 points. Change of 0.03%. Total value traded through LSE was: £ 6,572,681,049 a change of 1.53%
23/09/2022 FTSE Closed at 7018 points. Change of -1.97%. Total value traded through LSE was: £ 6,473,438,666 a change of 23.11%
22/09/2022 FTSE Closed at 7159 points. Change of -1.08%. Total value traded through LSE was: £ 5,258,363,393 a change of -10.68%
21/09/2022 FTSE Closed at 7237 points. Change of 0.63%. Total value traded through LSE was: £ 5,887,379,129 a change of 9.29%
20/09/2022 FTSE Closed at 7192 points. Change of -100%. Total value traded through LSE was: £ 5,386,737,074 a change of 0%

SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.

Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION

Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.

UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.

We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…

Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares

Click Epic to jump to share: LSE:AML Aston Martin** **LSE:ASC Asos** **LSE:AV. Aviva** **LSE:BARC Barclays** **LSE:BDEV Barrett Devs** **LSE:BT.A British Telecom** **LSE:CASP Caspian** **LSE:CNA Centrica** **LSE:EZJ EasyJet** **LSE:FGP Firstgroup** **LSE:HIK Hikma** **LSE:HSBA HSBC** **LSE:IAG British Airways** **LSE:IGAS Igas Energy** **LSE:IGG IG Group** **LSE:ITV ITV** **LSE:LLOY Lloyds Grp.** **LSE:MKS Marks and Spencer** **LSE:NG. National Glib** **LSE:OCDO Ocado Plc** **LSE:OXIG Oxford Instruments** **LSE:PHP Primary Health** **LSE:QFI Quadrise** **LSE:RMG Royal Mail** **LSE:RR. Rolls Royce** **LSE:SBRY Sainsbury** **LSE:SDY Speedyhire** **LSE:TRN The Trainline** **LSE:TSCO Tesco** **LSE:TW. Taylor Wimpey** **LSE:VOD Vodafone** **

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Updated charts published on : Aston Martin, Asos, Aviva, Barclays, Barrett Devs, British Telecom, Caspian, Centrica, EasyJet, Firstgroup, Hikma, HSBC, British Airways, Igas Energy, IG Group, ITV, Lloyds Grp., Marks and Spencer, National Glib, Ocado Plc, Oxford Instruments, Primary Health, Quadrise, Royal Mail, Rolls Royce, Sainsbury, Speedyhire, The Trainline, Tesco, Taylor Wimpey, Vodafone,

LSE:AML Aston Martin Close Mid-Price: 142.25 Percentage Change: -5.04% Day High: 146.2 Day Low: 129.15

Target met. Continued weakness against AML taking the price below 129.15 ……..

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View Previous Aston Martin & Big Picture ***

LSE:ASC Asos. Close Mid-Price: 634 Percentage Change: + 1.52% Day High: 637.5 Day Low: 566

In the event Asos experiences weakness below 566 it calculates with a dro ……..

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View Previous Asos & Big Picture ***

LSE:AV. Aviva Close Mid-Price: 389 Percentage Change: -4.87% Day High: 405.2 Day Low: 373.5

Target met. Weakness on Aviva below 373.5 will invariably lead to 360 wit ……..

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LSE:BARC Barclays Close Mid-Price: 151.08 Percentage Change: -3.05% Day High: 154.3 Day Low: 146.5

In the event Barclays experiences weakness below 146.5 it calculates with ……..

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View Previous Barclays & Big Picture ***

LSE:BDEV Barrett Devs. Close Mid-Price: 370.7 Percentage Change: + 2.89% Day High: 370.8 Day Low: 346.1

Weakness on Barrett Devs below 346.1 will invariably lead to 321 with sec ……..

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View Previous Barrett Devs & Big Picture ***

LSE:BT.A British Telecom. Close Mid-Price: 127.45 Percentage Change: + 1.51% Day High: 127.75 Day Low: 122.5

Target met. Continued weakness against BT.A taking the price below 122.5 ……..

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View Previous British Telecom & Big Picture ***

LSE:CASP Caspian Close Mid-Price: 2.75 Percentage Change: -3.51% Day High: 2.85 Day Low: 2.75

Weakness on Caspian below 2.75 will invariably lead to 2.2 with secondary ……..

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View Previous Caspian & Big Picture ***

LSE:CNA Centrica. Close Mid-Price: 75.58 Percentage Change: + 2.30% Day High: 76.38 Day Low: 72.42

If Centrica experiences continued weakness below 72.42, it will invariabl ……..

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View Previous Centrica & Big Picture ***

LSE:EZJ EasyJet Close Mid-Price: 297 Percentage Change: -1.26% Day High: 297.3 Day Low: 279

Target met. In the event EasyJet experiences weakness below 279 it calcul ……..

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View Previous EasyJet & Big Picture ***

LSE:FGP Firstgroup Close Mid-Price: 108.2 Percentage Change: -2.17% Day High: 110.8 Day Low: 105.1

If Firstgroup experiences continued weakness below 105.1, it will invaria ……..

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View Previous Firstgroup & Big Picture ***

LSE:HIK Hikma. Close Mid-Price: 1390.5 Percentage Change: + 12.05% Day High: 1412.5 Day Low: 1236.5

In what looks like a major change of mood, above 1413 now projects the pos ……..

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View Previous Hikma & Big Picture ***

LSE:HSBA HSBC Close Mid-Price: 483.45 Percentage Change: -2.47% Day High: 485.15 Day Low: 469.55

In the event HSBC experiences weakness below 469.55 it calculates with a ……..

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View Previous HSBC & Big Picture ***

LSE:IAG British Airways Close Mid-Price: 99.71 Percentage Change: -1.90% Day High: 100.92 Day Low: 96.52

Weakness on British Airways below 96.52 will invariably lead to 94 with ……..

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View Previous British Airways & Big Picture ***

LSE:IGAS Igas Energy Close Mid-Price: 55 Percentage Change: -8.33% Day High: 61 Day Low: 51.8

Continued weakness against IGAS taking the price below 51.8 calculates as ……..

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View Previous Igas Energy & Big Picture ***

LSE:IGG IG Group Close Mid-Price: 757.5 Percentage Change: -0.39% Day High: 763 Day Low: 743

In the event IG Group experiences weakness below 743 it calculates with a ……..

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View Previous IG Group & Big Picture ***

LSE:ITV ITV Close Mid-Price: 57.84 Percentage Change: -1.30% Day High: 58.16 Day Low: 54.94

Target met. If ITV experiences continued weakness below 54.94, it will in ……..

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View Previous ITV & Big Picture ***

LSE:LLOY Lloyds Grp. Close Mid-Price: 41.85 Percentage Change: -3.31% Day High: 42.94 Day Low: 41.12

Weakness on Lloyds Grp. below 41.12 will invariably lead to 40.4 with sec ……..

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View Previous Lloyds Grp. & Big Picture ***

LSE:MKS Marks and Spencer. Close Mid-Price: 103.7 Percentage Change: + 1.37% Day High: 104.8 Day Low: 98.1

Target met. If Marks and Spencer experiences continued weakness below 98. ……..

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View Previous Marks and Spencer & Big Picture ***

LSE:NG. National Glib. Close Mid-Price: 969.4 Percentage Change: + 2.24% Day High: 981.4 Day Low: 931.8

Target met. Weakness on National Glib below 931.8 will invariably lead to ……..

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View Previous National Glib & Big Picture ***

LSE:OCDO Ocado Plc Close Mid-Price: 522.4 Percentage Change: -3.47% Day High: 534.2 Day Low: 499

Target met. In the event Ocado Plc experiences weakness below 499 it calc ……..

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View Previous Ocado Plc & Big Picture ***

LSE:OXIG Oxford Instruments Close Mid-Price: 1784 Percentage Change: -0.45% Day High: 1792 Day Low: 1728

If Oxford Instruments experiences continued weakness below 1728, it will ……..

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View Previous Oxford Instruments & Big Picture ***

LSE:PHP Primary Health. Close Mid-Price: 113.5 Percentage Change: + 2.99% Day High: 113.1 Day Low: 106.6

Target met. Continued weakness against PHP taking the price below 106.6 c ……..

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View Previous Primary Health & Big Picture ***

LSE:QFI Quadrise Close Mid-Price: 1.13 Percentage Change: -0.66% Day High: 1.12 Day Low: 1.1

If Quadrise experiences continued weakness below 1.1, it will invariably ……..

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View Previous Quadrise & Big Picture ***

LSE:RMG Royal Mail Close Mid-Price: 187.2 Percentage Change: -3.53% Day High: 190.05 Day Low: 177.15

Target met. If Royal Mail experiences continued weakness below 177.15, it ……..

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View Previous Royal Mail & Big Picture ***

LSE:RR. Rolls Royce Close Mid-Price: 66.7 Percentage Change: -3.65% Day High: 68.38 Day Low: 64.48

Target met. Weakness on Rolls Royce below 64.48 will invariably lead to 6 ……..

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LSE:SBRY Sainsbury Close Mid-Price: 182.35 Percentage Change: -3.57% Day High: 187.3 Day Low: 177.25

Target met. Continued weakness against SBRY taking the price below 177.25 ……..

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LSE:SDY Speedyhire Close Mid-Price: 36.25 Percentage Change: -2.16% Day High: 37.8 Day Low: 35.55

If Speedyhire experiences continued weakness below 35.55, it will invaria ……..

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LSE:TRN The Trainline. Close Mid-Price: 307.5 Percentage Change: + 1.82% Day High: 326 Day Low: 287.7

Weakness on The Trainline below 287.7 will invariably lead to 266 with se ……..

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View Previous The Trainline & Big Picture ***

LSE:TSCO Tesco Close Mid-Price: 211.5 Percentage Change: -2.13% Day High: 215.3 Day Low: 206.5

Target met. Continued weakness against TSCO taking the price below 206.5 ……..

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View Previous Tesco & Big Picture ***

LSE:TW. Taylor Wimpey. Close Mid-Price: 90.96 Percentage Change: + 2.29% Day High: 91.54 Day Low: 84.76

Weakness on Taylor Wimpey below 84.76 will invariably lead to 61 with sec ……..

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View Previous Taylor Wimpey & Big Picture ***

LSE:VOD Vodafone Close Mid-Price: 105.12 Percentage Change: -0.42% Day High: 105.66 Day Low: 102.24

Target met. In the event Vodafone experiences weakness below 102.24 it ca ……..

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View Previous Vodafone & Big Picture ***

*** End of “Updated Today” comments on shares.

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