True! But what negativity could there be as most of them have already been taken care of- To name a few whether its to do with financing, sales, inventory reduction, NED selling, FCF etc.
RE: Smash through 4.20 next week on Monday!!16 Jul 2023 21:03
Most of the negativity around credit facility and supplier cuts/uprfront payment requests have already been out for some time. Let's not indulge in any speculation about tomorrow's price movement. Most didn't expect that we would drop severely last Friday after having a good Thursday on the back of Shoe results where we almost reached 400p.
Brent is bullish, no doubt about it and will remain during H2 possibly. HBR on the other hand is not bullish as I don't see any signs. Higher oil price does not mean higher share price. Mark my words.
We have UK retail sales data coming out next week for June. As we know, June was the hottest month so record sales for Asos based on people going on holidays, wardrobe cleansing etc. Also, we have big inflation data next week too. A decline there would be more than welcome.
FTSE 100 on the charge, wonder what has happened there to this lagging index today..some form of optimism hopefully. Anyway, driving the retail and other sectors up today, big time!