RE: More games by the Mms and shorts22 Aug 2022 14:02
Boohoo Share Price Forecast
The active daily candle is testing the 59.32 support, which is formed by prior lows of 3 August and 9 August. Combined with the progressively declining tops, the evolving chart pattern is that of a descending triangle. A breakdown of the 59.32 support completes the triangle and opens the door to a measured move that ends at 52.30 (30 June/5 July lows).
If the price deteriorates further, the bears will have access to the 45.18 support (5 May 2016 low). Additional harvest points at 39.12 (12 February 2016 low) and 32.83 become viable if the decline continues, in furtherance of the bearish structure.