The technical picture of the Hugo Boss AG common stock (ETR: BOSS) on our daily chart shows that the share price is currently stuck between two short-term tentative lines, a downside one drawn from the high of February 10th and an upside one taken from the low of March 10th. Until we see a breakout through one of those lines, we will remain neutral.
If the stock violates the aforementioned downside line, this could invite more buyers into the arena, potentially opening the door for further advances. BOSS may go to the highest point of March, at 55.56, a break of which would confirm a forthcoming higher high. Such a move could be seen as an additional positive sign, possibly clearing the way towards the 57.26 hurdle, marked by the high of February 23rd. If the buying doesn’t stop there, the next target might be at 59.04.
The RSI and the MACD are both pointing slightly to the upside. In addition to that, the RSI remains above 50 and the MACD keeps floating above zero and the signal line. The two indicators show positive price momentum, which supports the idea discussed above.
Alternatively, a break of the previously mentioned upside line and a price-drop below the 51.20 hurdle, marked by the current lowest point of April, may spook some buyers from the arena. BOSS could then travel to the 49.25 obstacle, or even to the 47.68 level. That level marks the low of March 18th.
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