The share price of Hugo Boss has reached a good support level which has already been proven in the past. Therefore, I would like to go long since the risk/return trade-off seem to be favourable.
The support zone can be seen on the above chart…at the moment the price is testing the support at 66.50 – 66.80.
Based on the above, I will be doing the following:
Long from 67.12
Stop loss at the closing weekly prices below the levels of 66.50.
1st target (where I will be also putting the breakeven stop) at 70
Final target at 79
article written by Riccardo Zago