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Boohoo Group Plc price: BOO is where it is not supposed to be

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Boohoo Group Plc shares (LSE:BOO) are currently where they are not supposed to be. The price still showcases bearishness, instead of bullishness. For most past of this year, the market has trended downwards, generally. There were occasional rallies along the way, but they were followed by further bearish movements.

4 EMA as used for this analysis and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the top left part of the chart.

Overall, all the EMAs are trending downwards, and any barging into the EMAs 10 and 20 would easily lead to further short-selling.

The outlook on BOO is bearish and the demand zones at 43.00, 42.00, and 41.00 will not be hard to reach within the next several months. They may even be surpassed as price plunges even further.

 

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