The current economic crisis and decreased consumer spending has not been easy, but can the approaching winter period create a boost?

Even though winter is approaching, the current economic situation with the fall in consumer spending, will not make it any easier for Zalando in the upcoming months. Current trading share price sits at €21.48 with support level at €20.01. A break below this support level could result in a dip towards the major support at €19.17 as shown by the Fibonacci retracement. Towards the upside, the stock faces resistance at €22.30 which is just finds itself just below the 23.6% fib level. A break above this fib level could see the shares jump towards the 38.2% fib (€24.50), where next resistance is based. RSI reads 48 indicating a neutral stance but MACD is positive.