Boohoo.com dips, rallies, and to dip again

Booohoo.com stock (LSE:BOO) started going southwards in early 2018, and the southwards movement was maintained until recently, when price bounced seriously upwards.

The upwards bounce took price above the lower Trendline, but it may go below it again. The RSI period 14 is in the overbought region.

 

Should price go above the upper Trendline, the bias on the market would become bullish. Should price go downwards from here, things would blend with the predominant bias on the market (bearish).

Since the recent bias on the market is bearish, it is assumed that a movement to the south would be the predominant thing on Boohoo.com this year.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Trading realities: http://www.advfnbooks.com/books/unlockpotential/index.html  

  

Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha

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