Boohoo Share Price Outlook from Investing Cube17 May 2022 15:10
The intraday decline looks set to test the support at the 76.12 price mark (24 February low and 5 May high). If this support holds firm, a bounce could put the Boohoo share price activity on the path toward the 85.64 resistance. This is the former floor of the completed rectangle and the site of previous lows seen on 9 February and 11 March. A further advance brings the rectangle’s ceiling at 96.86 (22 March and 6 April highs). 109.10 (1 February high) and 128.50 (29 December 2021 high) are additional barriers to the north which become available if the bulls clear the 96.86 price mark.
On the other hand, the 63.42 price mark (7 March low) becomes the next target if the bears degrade the support at 76.12. Below this level, additional southbound targets are seen at 52.30 (13 June/27 June 2016) and at 45.18 (3 May 2016 low). 39.12 is an extreme price barrier to the south and only becomes viable on extended price deterioration.