Looking at the technical picture of the Moet Hennessy Louis Vuitton SE stock (EPA: MC) on our 4-hour chart, we can see that from the end of March the stock has been forming lower highs. That said, the stock is still balancing above the 607.20 hurdle, which is the current lowest point of April. In order to get comfortable with lower areas, we would prefer to wait for a break below that hurdle first.
If that break occurs, this will confirm a forthcoming lower low, which may open the door towards the 571.90 zone, marked by the low of March 15th. Initially, MC might stall there for a bit, or even rebound somewhat. However, if the share price remains below the previously discussed 607.20 barrier, this could result in another decline. A drop below the 571.90 area may clear the way to the 543.90 level, which is the lowest point of March.
The RSI is currently flat but remains below 50. The MACD continues to point lower, while running below zero and the trigger line. The two indicators show negative price momentum, which supports the idea mentioned above.
Alternatively, if the share price breaks the aforementioned downside line and then jumps above the 658.40 barrier, marked by the high of April 21st. MC may travel to the highest point of March, at 675.110, or to the 700.20 hurdle, which is the high of February 16th. If the buying doesn’t stop there, the next possible target might be at 723.40, which is the high of February 8th.
Disclaimer:
The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. The Group of Companies of JFD, its affiliates, agents, directors, officers or employees are not liable for any damages that may be caused by individual comments or statements by JFD analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. Accordingly, you should seek, if you consider appropriate, relevant independent professional advice on the investment considered. The analyses and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyses and must therefore be viewed by the reader as marketing information. JFD prohibits the duplication or publication without explicit approval.
There are risks involved with trading of cash equities. Past performance is not indicative of future results. You should consider whether you can tolerate such losses before trading. Please read the full Risk Disclosure.
Copyright 2022 JFD Group Ltd.