Luxury goods firm PLC () and online fashion retailer plc (LON:ASOS) could make a good pairs trade, according to technical analyst Zak Mir.
Burberry was outperforming ASOS at the start of the year but the tables have now turned, with Mir thinking it makes sense to go long on Burberry and open a short position on ASOS.
The King of Charts said: “This looks like a good pairs trade for those who are technically minded.”
Meet Rockfire Resources PLC, Touchstone Exploration Inc, Mkango Resources Ltd and Salt Lake Potash Ltd at our event,
London , 20 June 2019.
Register here »