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Around 3600 was a major support, it has broken that.
Where will it stop..... surely cant fall too much more.
Im already out of my last 33% postion.
Yes. I should have exited before.
Averaging down is not a serious way to trade, but buying in a fresh position near the bottow can be a very good strategy.
I let it run too long and it has stopped me trading elsewhere at least physiologically.
Im sure it will go up again but when is the issue.
Results day normally or often are good for companies but with Asos they go nothing but down.
I still hold my shares though. Not as large there as I was in my spread bet though.
Next 33% gone, last almost there....
dimi123 : Its the same whether you buy on margin or buy the share in that you need a Stop Loss and a target. Buying on the margin just means the results are amplified. You should get in and out the same way generally depending if you are swing or scalping.
I closed 33% of my position this morning, with the next 33% about to close. This share is very volatile that's for sure and shre price doesnt always correlate well with its outlook or achievements.
Kallumama: You are obviously shorting this stock, or not working and wasting your time.
I would rather not sell here also, and I havent done yet, but Im tired of looking at 4 digit red numbers on my account especially when its leveraged x5.
Watching Asos daily and my negative P&L has been about as pleasant as meeting an ex-girlfriend for lunch - everyday. Lol
The company is doing quite OK, but speculation and fear like in any market is helping to badly blur the true value of companies like Asos.
Well Im soon to get out.
I thought that Asos would go well either way: Continued Covid and people buy online, no Covid and we find so many high street shops have gone and Asos is well positioned to take advantage.
Perhaps its more like more Covid means less traveling and less clothes being bought, less Covid and let's take our money as we dont know what is happening next..... It's rather boll-ocks.
Canetoad: If you are meaning Boohoo has more assets than liabilities, and they are making good money with a healthy balance sheet in cash reserves then I agree yes.
Though Boohoo does have longterm debt on their books, deferred income tax, etc.
Kindness: Boohoo have debt (could be alittle out of date these figures now) :
Total assets
£775.9M
Total liabilities
£303.4M
Debt to assets
39.10%
The big question everyone here is wondering, especially those who owns shares from before the last results is when will the price recover to levels around 5000?
What do you think?
We got a major support level at 260. If it breaks that its not good at all.
We were last there back in November 11th.
We were last there July 21st as a support rather than passing through on up.
The next major support is around the 3600 mark.
Between now and then is nothing but space.
If it goes beyond that its very bad.
Got my first margin call today from Asos. Always thought I was a reasonable trader but I'm not I see.
Lessons learnt, and a dent in the bank account :(
Anyone else had the same?
Trading has paused on my IG account for Asos. Is it the same for others elsewhere?
Oh I see Regimental, you are in these 3x leveraged funds based on RR. Spreadbetting and CFDs are x5 leverage so my fees should be higher than yours pound for pound.
Arms999: You can also lose it faster as crypto is mainly speculation with little intrinsic value.
Hi Regimental, I have IG and I have about 20k leveraged total with RR as a spread bet. My margin is around 4k. My interest that I pay daily is around £2. It sounds like you have CFDs as you have the exact average. Spread bets open totally separate from each other. Spread bet and CFD interest is the same from what i know.
Do you all think this price move down is still headwinds from inflationary concerns?
I see Asos is down too.