2024/11/18
Daily 4XSetUps - 1MC Is Hovering Around Yearly Lows
“august low, september low, october low & november low lower!
not the time for a noble corporation, like lvmh? do the lows hold?”
€ 622.5 : 2024/10/15 - yesterday's closing price action
€ 610.0 : 2024/10/16 - today's daily high price action
€ 588.5 : 2024/11/18 - last price action
€ 579.7 : 2024/10/16 - new annual low 2024 traded today
First, the bearish GAP must be recaptured! So the
1MC shares are trading above EUR 610.0 and/or EUR 622.5 again. In order to then reconfirm the bullish GAP from last month before (September 2024). And that is only when the bulls win back the price action between 620.4 EUR & 644.0 EUR too! Why? Because otherwise the short-term picture continues to look bearish! And we will have a price action around 550 EUR? Yes, maybe even lower prices than 550 EUR? What could happen faster in the future than we would like to think about it today! Therefore, you should definitely place a stop loss - for self-protection - to avoid further losses! Which from today's perspective - if you see the chart of the last days and/or weeks - have not become any less likely. If traders and/or investors decide to continue to see the LVMH share MIL:1MC even cheaper around the current annual lows in 2024.
“Every time you confront something painful, you are at a potentially important juncture in your life—you have the opportunity to choose healthy and painful truth or unhealthy but comfortable delusion.”
Ray Dalio
€ 588.5 : 2024/11/18 - last price action
€ 582.6 : 2024/09/23 - September 2024 Low
€ 579.7 : 2024/10/16 - October 2024 Low
€ 566.0 : 2024/11/12 - November 2024 Low
Things aren't looking good for
1MC shares. I know you shouldn't fall in love with stocks, but in the case of the French luxury company I am - also for private reasons. That's why I don't want to pretend - don't operate without a stop price. Because the probability that we will be stopped out has become greater than that we will experience a turnaround. But the current environment, in France, let alone in Germany, and even in the world, does not seem to be suitable for a higher price action by the noble company. Therefore the principle remains hope. This should be justified if the bulls defend the terrain of the last monthly lows for the time being, for the coming days, ideally until the end of 2024, i.e. also in December 2024. Because then we would have a solid terrain, a price action resistance zone, of under EUR 600 for weeks, and/or even months. And that's what this 4XSetUp is aimed at.---------------------------------
€ 750.0 - Target Price
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€ 603.4 - Entry Price
€ 588.5 - last price action
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€ 550.0 - Stop Price
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With best wishes
and with good intentions!
Aaron
“daily 4XSetUps - …” is pure information material!
By trying to give you even more information about some trading capabilities to trade and/or invest in some securities. This post is not a call to action - it only provides information. You decide (not) to decide. Even if I am writing daily 4XSetUps with concrete entry prices, target prices and/or also stop prices! It is like it is - like I said; You decide to respond to the analysis I just formulated to buy, to sell, or to do nothing! More information about my approaches to investing in something specific or just trading it, or even just describing it, can be found in the daily "Another 48h - DXY ...! Analysis Post. Where I try to track the price action in
DXY every day so that we learn something new daily.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.