Descending broadening wedge invalidated. Price came back, tested the trend line and bounced back up. Earnings date coming in on the 25th of Feb. Europe was locked down for most of 2020's Q4 so I expect a lot of Christmas shopping was done on Farfetch. As long as we don't go back in the broadening wedge I think this might have room to run into earnings
Comment
⋅
Unfortunately back inside the wedge so be careful. That said I think these are just technical corrections, Farfetch announced revenue rose 64% YOY while they are finally entering profitability after 12 years. With the chinese market ahead I see nothing but positive performance for medium and long term
@Pastig, Obviously if tehre's a market wide correction everything will get impacted but I think it's too early to tell right now. So far it's consolidating above that fib line so nothing to get concerned about just yet.I did reduce my exposure yesterday in everything as all indicators are stretched even if we correct now or later