Update on LVMH

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MC appeared to be forming a Wave 4 triangle that was expected to resolve higher. However, following macroeconomic news, the stock sold off sharply and found support at a key level that previously acted as major resistance after the October breakout.

We view this level as technically significant and attractive. As a result, we have initiated a position equal to 50% of our intended exposure. With earnings scheduled in two days, the upcoming report will be the key catalyst in determining whether the stock can resume its advance and break above the prior €650 high, or whether a deeper correction unfolds.

Risk is being actively managed through a predefined stop-loss, and we are awaiting post-earnings confirmation before committing additional capital.
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Notice the pink support has a confluence of supports with the major blue support
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Correction- earnings are to be announced on the 27th of January, apologies for any confusion

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