Take advantage of a potential rebound.

The company's fundamentals remain strong. Sales growth perspectives are great as revenues are expected to reach GBP 1 billion this year from GBP 770 million at the last fiscal exercise and better improvements are forecasted for upcoming years. The analysts' consensus is mainly buyer with an average target price at GBp 4070, which offers a 83% potential.

Technically, the security sharply fell for several weeks. This fall led shares toward the GBp 2176 support area, which could become a stepping stone for a bounce in prices. This push could draw an upturn movement, thus launching the equity toward the GBp 2520 resistance level.

Therefore, it seems opportune to take a long position on ASOS at current prices. Investors should not insist below the GBp 2176 and a stop-loss order should be placed under this threshold.