An interesting chart structure with two possible outcomes yet to be determined.
The price is moving within the red triangle and is currently near the upper boundary.
A bullish view suggests a potential breakout followed by the completion of a double bottom pattern, with the neckline at €1,750.
Conversely, in a bearish scenario, the price has just been rejected by the weekly SMA10 near the upper edge, with a probable return toward the bottom of the triangle, where a bearish breakout could follow.
I’ve noticed that many stocks in the luxury sector are currently sitting just below major resistance levels awaiting a breakout... what is about to happen?
This is just food for thought, as I believe the best move is to place some alert, wait and see which side of the triangle breaks first.
Keep a close eye on the volumes!
The price is moving within the red triangle and is currently near the upper boundary.
A bullish view suggests a potential breakout followed by the completion of a double bottom pattern, with the neckline at €1,750.
Conversely, in a bearish scenario, the price has just been rejected by the weekly SMA10 near the upper edge, with a probable return toward the bottom of the triangle, where a bearish breakout could follow.
I’ve noticed that many stocks in the luxury sector are currently sitting just below major resistance levels awaiting a breakout... what is about to happen?
This is just food for thought, as I believe the best move is to place some alert, wait and see which side of the triangle breaks first.
Keep a close eye on the volumes!
Aviso legal
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.