Could ASOS plc Change Direction After Reaching 52-Week High?

 Could ASOS plc Change Direction After Reaching 52 Week High?

The stock of ASOS plc (LON:ASC) hit a new 52-week high and has GBX 5572.30 target or 8.00% above today’s GBX 5159.54 share price. The 5 months bullish chart indicates low risk for the GBX 4.32B company. The 1-year high was reported on Nov, 29 by Barchart.com. If the GBX 5572.30 price target is reached, the company will be worth GBX 345.60M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.28% or GBX 14.54 on November 29, hitting GBX 5159.54. About 240,766 shares traded hands. ASOS plc (LON:ASC) has risen 41.54% since April 28, 2016 and is uptrending. It has outperformed by 36.28% the S&P500.

ASOS plc (LON:ASC) Ratings Coverage

Out of 24 analysts covering ASOS Plc (LON:ASC), 14 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 58% are positive. GBX 8159 is the highest target while GBX 45 is the lowest. The GBX 5116.32 average target is -0.84% below today’s (GBX 5159.54) stock price. ASOS Plc has been the topic of 148 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock of ASOS plc (LON:ASC) earned “Buy” rating by HSBC on Monday, January 18. The firm has “Outperform” rating by BNP Paribas given on Tuesday, May 17. The stock of ASOS plc (LON:ASC) earned “Buy” rating by Deutsche Bank on Friday, January 15. Liberum Capital upgraded ASOS plc (LON:ASC) on Thursday, September 24 to “Buy” rating. The company was maintained on Thursday, November 24 by Berenberg. The rating was maintained by BNP Paribas on Monday, September 12 with “Outperform”. HSBC maintained the shares of ASC in a report on Friday, February 5 with “Buy” rating. Berenberg maintained it with “Buy” rating and GBX 4100 target price in Friday, November 6 report. JP Morgan maintained ASOS plc (LON:ASC) rating on Friday, September 16. JP Morgan has “Overweight” rating and GBX 5400 price target. The stock has “Buy” rating given by Liberum Capital on Monday, September 28.

Asos PLC is a global fashion destination for a range of things. The company has a market cap of 4.32 billion GBP. The Firm sells and offers a range of fashion-related content on ASOS.com. It has a 123.74 P/E ratio. The Company’s divisions include UK, US, EU and RoW.

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