RE: Negative Views of Boohoo26 Jun 2022 18:57
The daily chart shows that the BOO share price has been collapsing in the past few months. The shares have moved from an all-time high of 438p to the current 57p. Along the way, the stock has moved below the important support level of 63p, which was the previous YTD low.
Boohoo remains below the 25-day and 50-day moving averages while oscillators have moved to the oversold levels. Therefore, there is a likelihood that the stock will keep falling as bears target the next key support level at 45p.