I suspect that people have been pulling the wool over your eyes by saying someone is building a stake.
If you compare the momentum from the rise to 20p (when we knew someone was buying) vs now, you can see there is no momentum and the decline in share price means no large buyer is present.
They could go bust but I doubt it. Although I've never believed the "Amigo is needed more than ever" sentiment either.
The reason why the FCA are investigating us is because we've been caught doing something we shouldnt have been. But the board looks to be trying to correct any misgivings the previous BOD have left them.
50p by Xmas.
The RSI is still declining. Will this hit 10p again?
When you look at the RSI, MACD and volume on a wider time frame you can see declines in all three compared to the rise up to 20p.
This indicates people profit taking in the short term. Wait til the RSI falls to 30 before topping up.
It explains the rise from 70p to 76p last week.
When is the next trading update due?
Feels like a while since we've had an RNS.
The support on the pennant is just below 290.
As with normal pennant consolidation, of which Boohoo has been within for the past year, this could possibly rerate to 550p as it extends beyond the resistance on the pennant.