ASOS have dropped quite significantly in the past week for no particular reason and I view this as the perfect opportunity to invest as I can see them bouncing right back up to the 5.50p mark in the next 2-3 weeks. STRONG BUY!!

thanks

sd - I certainly would do it the same way. If you did buy for your SIPP at 297.5 then you already have covered your dealing costs. Its a matter of trusting the charts, reflecting a level of demand to add ASC to portfolios. The run would only stop, I suspect, if either news was not as good as expectations, perhaps in trading report at the AGM (unlikely), or analyst views move to a consensus that the sp is looking too far ahead. Current broker sentiment is strong - 10 brokers on Hemscott. Incidentally, www.hemscott.com gives good free information and financial analysis. Good luck and many juicy bones.
Eric

A good post, but didn't deserve two entries!

eric here is zaks reply notice the change in wording "of at least"
"zak out of interest how do you arrive at 350p & is this still relevent? tia"

"Drawing a resistance line projection from August through the last highs of 2007 gives a target of at least 350p"

Thanks Woodie. I'll take 350p (at least) as next port of call and we can then set our sights on 400p!

from todays ft.
from todays ft.
Brokers warm to Asos flair
By Peter Garnham

Published: May 13 2008 03:00 | Last updated: May 13 2008 03:00

Asos , the online seller of celebrity-inspired fashion, was in focus yesterday after Cazenove initiated coverage of the stock with an "outperform" rating.

The broker said the speed of growth at the company, which is the UK's second largest online clothing retailer, was "staggering".

Based on the company's ability to convert sales into cash, the broker said Asos shares were worth 387p - 32 per cent above last night's closing price of 293p, down 2.3 per cent on the day.

Shares in internet retailer ASOS (ASC) rose 2p to 295p as Daniel Stewart reiterated its 'buy' stance and 390p target price for the shares. It said it is forecasting compound earnings growth for the company of 56.5% during 2007-2010. It added that its price target is based on a PEG of 1.1 times for ASOS, which is below the peer group average of 1.4 times

Asos to launch menswear catalogue

Published: 13 May 2008 10:59
Author: Ben Bold

Online fashion retailer ASOS.com is to launch a menswear catalogue this week.

The revamped its biannual menswear magazine is to be mailed to existing customers and distributed via fashion publications. Previously, menswear was showcased in the women's catalogue.

The menswear title will showcase Asos's in-house and third-party designed men's collections.

The magazine will have a print run of more than 500,000 and will be mailed to Asos's menswear customers. Copies of the magazine will also be included in the July issue of men's monthly FHM.

Asos's new-look title is printed on high-quality paper and features photography by Helen McArdle and styling by Susie Lloyd.

The first issue will include an interview with Alex Turner, the lead singer of The Arctic Monkeys.

The magazine's re-launch coincides with a new Asos press advertising campaign.

Cost of launch might eat into profits and a big drop today - looks weak.

Bounced a bit yesterday but looking weaker again today and the bears are in control it seems.

bears are in control?????????? looked at chart of late??? am sure they have done their homework re this launch , unfortunately with any new launch you will have to dip in yor pockets first

Dip - more than a dip I expect - a long distance swim - more like it. any down turn in current trading would be a big blow at this time imo.

Midas update - Asos soars by a further 73%


Asos
Epic: ASC



The High Street is in the doldrums but Asos is one firm bucking the retail trend.

Asos is an online operator specialising in young and hip fashion. The name stands for As Seen on Screen and the group started life selling women's clothes based on those worn by celebrities.

Midas recommended the shares at 106p in October 2006. The firm has since gone from strength to strength, recently reporting a 90% rise in sales to more than 80m for the year to March 31.

Full results for the year to the end of March come out this summer and brokers forecast profits of about 7m against 3.6m in 2007. Estimates for 2009 suggest profits of 12m or more and some analysts think Asos will start paying a dividend then.

Online retailing seems to be faring a lot better than the High Street and Asos benefits from having young customers who are less likely to be weighed down with household bills.


Midas verdict: Midas last looked at Asos in October when the shares were at 168p. We suggested that investors take some profits but keep at least half their shares. Today they are 290p, up 174% since our tip and despite incredibly tough market conditions, up 73% since last October. Most City followers believe it has further to go.

Leading stockbroker Cazenove suggested last week that the shares should rise to more than 380p. This may be the case, but with a fragile economy there is no harm in selling some. But investors should keep half of what they still hold and see if Asos really can weather the storm.

That was a soft sell message by the looks of it to me. It also seems to have trouble breaking above 290p now let alone 300p as previous. With the PE being so high it could soon be one for the serious shorters imo.

Another day of gloom for holders, and with retailers under pressure who knows!

Follow the trend it would seem - Any chart experts here that care to suggest a support level?

Draw a line at 272.5p to see it runs through old resistance levels, recent and today support levels. If we fall below we are in for a more substantial correction down to 240p - which I sincerely hope we do not having added substantially at 297 average recently!

A slight recovery today but very odd the number of very small trades showing.

Still very much an uptrend. sd: perhaps new support level established at 275p. We seem to have an arch shorter with us! He seems to be looking at the wrong sector, i.e. retail when ASOS is in a growth internet retail sector.

Eric