theselfishtrader

ASOS - Long term long trade

Long
LSE:ASC   ASOS PLC ORD GBP0.035
Price hasnt been at these lows since the pre-pandemic crash last March. It is a significant historic low which is also a monthly support level. Its a good price for a stock that will certainly do well in the longer term. For a swing trade, getting in now and targeting range-bound resistance (confluence with 50% fib retracement zone) looks a solid, low-risk play.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.