LVMH has been good to me in in 2018. So far I've had two correct calls and I hoping that this would continue the positive trend.
The sector has been hot however valuations are quite elevated. Also, these are pure bull market stocks which has a wealth effect on both the upside and downside.
On Oct 9 we saw a breakdown on high volume while the recent uptick has been on lower volume. Currently the price is re-testing it's 200dma as well as the underside of the breakdown level.
Short/Sell at current levels: €272.70
Stop-loss: €279
Take Profit Target: €258
The sector has been hot however valuations are quite elevated. Also, these are pure bull market stocks which has a wealth effect on both the upside and downside.
On Oct 9 we saw a breakdown on high volume while the recent uptick has been on lower volume. Currently the price is re-testing it's 200dma as well as the underside of the breakdown level.
Short/Sell at current levels: €272.70
Stop-loss: €279
Take Profit Target: €258