Trading Idea Hugo Boss Share: Technically it still has potential

Stocks in Hugo Boss Design Company (ETR:) have been gaining more popularity among investors since spring 2020, and in summer 2021 they even managed to overcome the medium-term downtrend that had existed since 2015, thus activating a buy signal. Although the stock then only reached a level around €60.00 and then entered a sideways movement with support pegged at €45.75, the security has recently left this range and is heading north again. However, technical analysis shows a much higher price potential that is suitable for a long-term commitment over the medium term.

long chance:

A successful break above the buy trigger at €60.00 now could give Hugo Boss stock more bullish potential in the €67.00 area, another target above this at €71.46 could be announced. Overtake wave can reach 81.40€. The opposite scenario for Hugo Boss stock, on the other hand, would run below the 200-week moving average at €50.25 currently, and investors could face a reversal to €44.36. But only below that the ongoing recovery would have to be completely cancelled, and then losses of up to €36.56 could follow.

the main points: long

  • Entry via buy stop order: €63.99
  • Target price: 67.00 / 71.46 / 81.40 euros
  • Stop: <56,70 Euro
  • Risk Amount per CFD: 7.29 EUR
  • Time horizon: 2-3 months

Weekly chart:

HugoBoss_Weekly Chart

Hugo Boss AG; weekly, local time (GMT+1); The share price at the time the analysis was prepared was 63.23 euros; Trading place: extra; 08:00 am

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