Head and Shoulders pattern confirmed at the breakdown of the neckline at $566. I traded the relief rally in the ABC corrective pattern, which took us up to $764. That is where I flipped short and we are now in the C wave of the corrective pattern.
This brings opportunities for long term investors who believe in the strength of the European luxury giant. The tariff headwinds and continued weakness in the Chinese consumer shows no sign of easing. I expect LVMH to sink down to $413 (possible support) and could drop down to $278 (the Covid lows).
Keep an eye on this, it could present an excellent opportunity if we get to these depressed levels. Not financial advice.
This brings opportunities for long term investors who believe in the strength of the European luxury giant. The tariff headwinds and continued weakness in the Chinese consumer shows no sign of easing. I expect LVMH to sink down to $413 (possible support) and could drop down to $278 (the Covid lows).
Keep an eye on this, it could present an excellent opportunity if we get to these depressed levels. Not financial advice.
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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.
Related publications
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.