The technical figure Falling Wedge can be found in the daily chart in the Swiss company The Swatch Group Ltd (UHR.vx). The Swatch Group Ltd is a Swiss manufacturer of watches and jewellery. The Swatch Group is the world's largest watch company and employs about 36,000 people in 50 countries. The group owns the Swatch product line and other brands, including Blancpain, Breguet, Certina, ETA, Glashütte Original, Hamilton, Harry Winston, Longines, Mido, Omega, Rado, and Tissot. The Falling Wedge broke through the resistance line on 21/04/2023. If the price holds above this level, you can have a possible bullish price movement with a forecast for the next 9 days towards 312.60 CHF. According to experts, your stop-loss order should be placed at 285.60 CHF if you decide to enter this position.
The Swiss company said it expects record sales in 2023 boosted by the return of demand in China, Hong Kong and Macau, which was hit by the return of COVID-19 cases last year, and as Chinese tourists resume their travels.
"Group Management anticipates strong sales growth in 2023 in all regions and segments," Swatch said, noting that consumption had quickly recovered in Hong Kong and Macau as well as China after pandemic restrictions were lifted.
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The Swiss company said it expects record sales in 2023 boosted by the return of demand in China, Hong Kong and Macau, which was hit by the return of COVID-19 cases last year, and as Chinese tourists resume their travels.
"Group Management anticipates strong sales growth in 2023 in all regions and segments," Swatch said, noting that consumption had quickly recovered in Hong Kong and Macau as well as China after pandemic restrictions were lifted.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals and cannot be held liable nor guarantee any profits or losses.