$JSECFR - Richemont: Buy The Third Of The Fifth Wave
The last update on Richemont was on 10.03.2023 and the stock has traded as forecasted, link below.
*On 18 April 2023 Compagnie Financière Richemont SA converted its depositary receipts to A shares, depositary receipts were surrendered for A Shares in a ratio of 10 Depositary Receipts for one A Share. Historical prices have thus been adjusted.
Wave 3 peaked at 347987 and was followed by a simple three wave zigzag for wave 4.
Price looks to be rallying in the early stages of wave ((iii)) of 5 of (3).
Third waves tend to be strong thrusts so this could run for a while if the wave count is correct.
Aggressive stops can be placed below 300837 though only a break below 290728 will invalidate the outlook that wave 4 has bottomed.
*On 18 April 2023 Compagnie Financière Richemont SA converted its depositary receipts to A shares, depositary receipts were surrendered for A Shares in a ratio of 10 Depositary Receipts for one A Share. Historical prices have thus been adjusted.
Wave 3 peaked at 347987 and was followed by a simple three wave zigzag for wave 4.
Price looks to be rallying in the early stages of wave ((iii)) of 5 of (3).
Third waves tend to be strong thrusts so this could run for a while if the wave count is correct.
Aggressive stops can be placed below 300837 though only a break below 290728 will invalidate the outlook that wave 4 has bottomed.
