ASOS (ASC-L)
ASOS slumped -5.6 percent on Friday to a 12-month low. in fact, ASOS saw its market value crash by more than a fifth in recent days. A sharp reassertion of ASC-L’s downtrend is underway. Downside pressure will remain strong until prices reach round number levels (nearest is 700p). A sharp counter-trend rally is required to offset the current negative sentiment.
