BME:ITX   INDUSTRIA DE DISE\O TEXTIL S.A. INDITEX-
44 views
5
Multiyear view of Inditex.

- Distribution (Wyckoff) from 2015 to 2017. Range 29 to 32. Blow off top on 36 euros.
- Second redistribution from 2018 to 2020. Range 24 to 28. Blow off top on 32 euros.
- Potencial third redistribution 2020 to 2022. Range 18 to 24:
  • Topping on 32 euros in December 2019.
  • Almost 50% drop on March 2020
  • A - Support on 18,56 following 2013-2015 trendline
  • B - Rebound in April 2020 to 26 euros
  • C - Potencial C wave to 14 euros implying a 56% drop, this would be a shake out on the third redistribution.

Potential catalyst for C Wave is 1-2 months after re-opening of stores across Spain and Europe as only 30% of stores in Spain are re-opening and people may not return to pre-covid consumption habits, this may cause a 30-50% drop in sales

Entry point: 24
Stop loss: 25.5
Take profit 1: 20.64
Take profit 2: 19.7
Take profit 3: 18.47
Take profit: 14.47

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out