TradingView
Loyiso_BlaqueSoros_Mpeta
Nov 22, 2023 9:57 AM

$JSECFR - Richemont: Wave 4 Correction Looks Complete Long

COMPAGNIE FINANCIERE RICHEMONT SAJSE

Description

See link below for previous analysis.

The wave 4 forecasted in the previous analysis turned out to be much deeper but looks to have bottomed at 215732 cps.
The overall structure from 147340 is still an impulse so wave 5 could be in its early stages now.

What is key is that 215732 holds and this level should be used as a stop-loss.

What is further encouraging is that the MACD started turning up before price and has recently broken above the zero-line after many months trading below it. This is bullish from a momentum perspective.
More