Is this the big bad turn for LVMH?
LVMH has had one heck of a run from $39 in 2009 up to $996 in 2023.
But since April 2023, it just has NOT been able to break that $1,000 psychological mark.
And since the beginning of last year, we've seen it form a bearish Head and Shoulders pattern.
Now I am not a total bear yet. We do need the price to break below the neckline before we get all excited about the short.
But until then it's a patience game. We also have other indicators showing potential downside to come including:
Price<200
20>7
RSI<50
Target $412
Let's see how it plays out, cause this could make a change any week now.
But since April 2023, it just has NOT been able to break that $1,000 psychological mark.
And since the beginning of last year, we've seen it form a bearish Head and Shoulders pattern.
Now I am not a total bear yet. We do need the price to break below the neckline before we get all excited about the short.
But until then it's a patience game. We also have other indicators showing potential downside to come including:
Price<200
20>7
RSI<50
Target $412
Let's see how it plays out, cause this could make a change any week now.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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