Asos LSE:ASC looked like it was failing to stay above the previous resistance level but price has started to show resilience again. This is thanks to the daily 50 moving average which it has used twice this year as support.
Price is also above the weekly 50 and 200 moving averages so the overall trend is up.
The high of the 27th February is the point that will confirm a continuation of the bull trend so if price can manage to break above that high at £76.70 then a trade will look likely.
This stock has trended well in the past and could potentially repeat that pattern so it would be best to keep this stock on your watchlist to be ready for a long trade opportunity.
Any comments or questions, do not hesitate to leave them below.