Boohoo Group Plc. price: Sellers threaten to go short as buyers remain adamant

Share On Facebook
share on Linkedin
Print

Boohoo Group Plc. stock (LSE:BOO) has shown some signs of pulling back, though the current bias remains bullish. Bears want to pull down the price, but bulls are not willing to let that happen.

In the chart, price is clearly above the upper Trendline, though there is a minor bearish retracement in the market, which is expected to be temporary. Price will be bullish as long as it does not go back into the lower Trendline (and eventually moves below the lower Trendline).

The RSI period 14 is also showing some form of bearish divergence, which may eventually prove not to be reliable, for there cannot be a bearish signal as long as the RSI stays above the level 50.

The probability of RSI turning and going further upwards is higher than its probability of going southwards. Bulls are thus eyeing the resistance areas of 325.00, 350.00 and 375.00 before the middle of the year 2021.

Teach Yourself Technical Analysis: Teach Yourself

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20210309 01:29:11