ASC 081220

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August 12, 2020 5:40 AM
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Graph showing a slow uptrend
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Asos, the UK online fashion retailer, expects FY20 sales growth of 17% to 19%. Pretax profit is seen between 130 million to million pounds. Those figures were above current consensus, allowing the stock to jump this morning. 

From a chartist point of view, the stock accelerates upward following the breakout of the 3590 resistance area. Above that level, a new up leg would be expected towards next Fibonacci targets set at 4950 and then 5450.

Source : TradingView, Gain Capital


Related tags: Equities Technical Analysis

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