2024-01-23 08:00:00 ET
Summary
- LVMH's stock price has corrected but faces uncertainty in the luxury market due to weak consumption in China.
- The structure of price in LVMH suggests a potential prolonged corrective move.
- A bounce in price is expected, but the structure of the bounce will determine the next likely move.
By Levi at Elliott Wave Trader; Produced with Avi Gilburt
Back in September we had our eye on a potential setup for “All Things Luxury” . You can see the specifics of that projection here . And since we view the markets from a probabilistic vantage point, at that moment in time, the probabilities suggested that price would hold support and then turn up in the next phase of the rally....
Read the full article on Seeking Alpha
For further details see:
LVMH/Christian Dior: Setups Are Not Certainties, When And How To Adjust Your Stance