LVMH - Bearish Wolve Wave in the D+1 Chart?
Updated
Since the ATH LVMH has been decreased round about 20%. From the Fibonacci point of view, we have a classical 50% consolidation. The consolidation pattern is includes a Wolve pattern where the 5 is made and we now have to observed the activation of the pattern. If active, 10% potential is possible. The APEX is in the middle of October.
A movement to the top is possible, the RSI is close to oversold.
A movement to the top is possible, the RSI is close to oversold.
Trade closed: stop reached
The pattern is gone. The bad numbers induce another slump, the price is below the APEX when the apex time was reached, never get valid anyway. LVMH is bearish, the overshoot line as well as the upper kone line remain valid as bearish channel. Targets up to further analysis but I see a certain probability for prices below 600 €. I sold my small investment position and wait till a see a clear new bottom signal.
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