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Could ASOS and Burberry make a good pairs trade? One analyst thinks so…

Luxury goods firm Burberry Group PLC (LON:BRBY) and online fashion retailer ASOS 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.”

Quick facts: ASOS PLC

Price: 2943.65 GBX

AIM:ASC
Market: AIM
Market Cap: £2.94 billion
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