ASC 081220
The stock rallies following company's forecasts.
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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
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
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